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Bundled Payments: The Future of Health Care Reimbursements?

09/23/18

  04:15:00 pm, by MedBen5   , 209 words,  
Categories: Cost savings, MedBen Analytics, Bundled Payments, Reference-based pricing

Bundled Payments: The Future of Health Care Reimbursements?

roll of $100 bills

Health care payers are continually looking for ways to reduce medical spending. One idea that has gained traction in recent years is the bundled payment system, in which a provider is paid for a complete episode of care, rather than paid separately for the various services that make up that episode.

For the payer, bundled payments reduce total spending by eliminating treatment redundancies and inefficiencies. But in switching from traditional fee-for-service to a value-based approach, providers can also see financial rewards, by reducing their service costs through a focus on quality care.

Medicare has been a high-profile proponent of bundled payments, testing both voluntary and mandatory provider models. In 2015, MedBen introduced MedBen Analytics, a bundled payment reporting platform that converts Medicare data into actionable insights.

MedBen also offers commercial bundled payment services to clients. As health care systems become more comfortable with the value-based model, MedBen expects it to become the norm for employer claim payments. Self-funded plans will realize lower costs without compromising quality of care.

In addition to bundled payment services, MedBen offers a variety of alternative cost-saving strategies, such as direct-to-employer contracting and reference-based pricing. Contact Vice President of Sales & Marketing Brian Fargus at bfargus@medben.com to discuss what strategies may work best for your business.

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