While protocols for creating bundled payments may differ, what does remain the same is that successful bundled payments require intimate market knowledge, according to Monica Ziegler, MSN, CASC, Administrator PSC & CSS at Surgery Partners; and Larry Taylor, president and CEO of Practice Partners in Healthcare, in their session on bundled payments and progressive cost containment strategies at the Becker's 21st Annual Meeting — The Business and Operations of ASCs, in a session held Oct. 23.
Both Ms. Ziegler's and Mr. Taylor's centers are currently pursuing bundled payments, though in different ways.
"We're building our bundled payments based on Medicare rates and bundling it with our anesthesia and surgeon fees," said Ms. Ziegler. "We can compete significantly with a hospital offering such a service as well."
"We're doing bundled payments for our orthopedics, the 'low-hanging fruit.' It's a complicated process, but Medicare has been doing it now for years. they expect us to get there, and we need to get there, because it will be tough to recover from not getting there," said Mr. Taylor.
Bundled payments may allow for more growth than has been previously perceived, according to Ms. Ziegler, who also cautioned against starting accidental price wars by lowering bundle prices too much. "We don't want to compete ourselves out of business," she said.
Mr. Taylor agreed. "The key is knowing your data. Otherwise, you'll spend a lot of time and energy and not really reap the rewards from [bundled payments]," he said.
For centers experimenting with bundled payments, the pair recommended publicizing. "Market what you're doing to everyone. Know your environment and know your local climate, because what's right in one area isn't necessarily the same as in another area. The sky in the limit, but you need to check every single avenue you can to survive," said Ms. Ziegler.
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