The fee-for-service healthcare payment model is contributing to the U.S.'s ongoing spending crisis, as the nation is projected to reach $4.8 trillion in spending over the next 10 years, according to a Huffington Post blog post.
Fee-for-service brings higher costs and not necessarily better outcomes compared to industrialized nations such as Japan and Norway, who spend on average 150 to 300 percent less on healthcare than the U.S. and have lower morbidity rates for diseases such as cervical cancer and asthma, according to the report.
CMS' bundled payment initiative that brings provider incentives and performance metrics for care could be a viable solution to slowing healthcare spending and bettering patient care, according to the article authors.
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Fee-for-service brings higher costs and not necessarily better outcomes compared to industrialized nations such as Japan and Norway, who spend on average 150 to 300 percent less on healthcare than the U.S. and have lower morbidity rates for diseases such as cervical cancer and asthma, according to the report.CMS' bundled payment initiative that brings provider incentives and performance metrics for care could be a viable solution to slowing healthcare spending and bettering patient care, according to the article authors.
More Articles of Coding, Billing and Collections:
Survey: 69% Providers Expect Costs to Drive Outpatient Populations
Surgery Center Network Partners With Gallagher Healthcare
Methodist Health Selects ProVation for GI Documentation Software