Figuring out how that bundled payment thing actually works
Bundled payment is drawing lots of attention as a leading valued-based payment model, though many people still scratch their heads about the operational details.
Healthcare professionals will have a chance to learn more about it June 16-18 at the annual National Bundled Payment Summit in Washington.
The summit will focus on how people and systems are concretely designing payment structures around specific episodes of care, said Francois de Brantes, executive director of the Health Care Incentives Improvement Institute and a co-chair of the event. “Bundled payments have moved from concept/early pilots to really full-blown implementations,” de Brantes said. “What we really want to do with this conference is keep it at the practical level.”
Medicare’s Bundled Payments for Care Initiative is one of the largest demonstrations of the model. The initiative has brought together numerous hospitals, health systems and physician groups to negotiate bundled payment rates with Medicare for certain procedures such as total joint replacements. But de Brantes stressed that bundled payments today also involve private insurers. Statewide bundled payment initiatives in Arkansas, Colorado and Tennessee also will be highlighted.
Most insurers and providers anticipate value-based payment models, including bundled payment and accountable care, will account for about two-thirds of payment by 2020, while fee-for-service pay will dwindle to about one-third of payments, according to a survey from McKesson Corp. “We’re no longer at a stage where it’s just idle talk,” de Brantes said.
Sessions will be available live online for a fee.