CMS Announces Participants in New Value-Based Bundled Payment Model
Posted on Thursday, October 11, 2018 1:34 PM
This week, CMS announced that 1,299 businesses have signed agreements to participate in its Bundled Payments for Care Improvement-Advanced (BPCI-Advanced) Model. These entities will receive bundled payments for specific episodes of care instead of fee-for-service payments that reward solely on volume of care. Under the new episode payment model, participants can earn an additional payment if all expenditures for a beneficiary’s episode of care are less than a spending target, which factors in measures of quality. If, on the other hand, the expenditures exceed the target price, the participant must repay money to Medicare.
“To accelerate the value-based transformation of America’s healthcare system, we must offer a range of new payment models so providers can choose the approach that works best for them,” said CMS Administrator Seema Verma. “The Bundled Payments for Care Improvement – Advanced model was the Trump Administration’s first Advanced Alternative Payment Model, and today we are proud to announce robust participation. We look forward to launching additional models that will provide an off-ramp to the inefficient fee-for-service system and improve quality and reduce costs for our beneficiaries.”
Click here for the full press release.
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