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Study: Bundled Payment Model Saves Money, Maintains Quality Care

01/06/17

  10:04:00 pm, by MedBen5   , 268 words,  
Categories: Cost savings, MedBen Analytics, Bundled Payments, Quality, Value-based care

Study: Bundled Payment Model Saves Money, Maintains Quality Care

MedBen Analytics

Proper use of bundled payments by health care providers can save money while maintaining or even improving quality of care, concludes new research from the Perelman School of Medicine at the University of Pennsylvania.

According to a Penn Medicine news release, the evaluation of costs and care quality for hip and knee replacements performed from 2008-2015 at a Texas-based health system determined that the average cost per patient dropped nearly 21% during that period. The health system began the transition from fee-for-service to bundled payments in 2009.

The study also found a 67% drop in extended hospital stays, while the severity of patient conditions remained unchanged.

As these numbers suggest, the steady growth of alternative payment models carries the potential for significant cost savings in the delivery of health care. MedBen Analytics is working to help hospitals, health systems, and physician groups fulfill that potential.

Through our proprietary reporting platform that converts disparate Medicare data into actionable insights, MedBen Analytics enables providers participating in the Comprehensive Care for Joint Replacement (CJR) and other value based payment initiatives to make informed decisions regarding hospital readmissions, lengths of stay and other cost-oriented variables.

As methods from bundled payments for hip and knee replacements are being applied to cardiac care and other medical procedures, MedBen Analytics continues to broaden its reporting platform. Our goal is to ensure that providers get full advantage of the data transparency now available to them, and use our reports to offer optimal service while saving money ‒ and enhancing their reputations.

Organizations interested in discussing MedBen Analytics' services can call President and COO Kurt Harden at 888-633-2364 or email him at kharden@medben.com.

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