Health care is moving from a Fee-For-Service (FFS) Payment Model to a Value Based, Alternative Payment Model (APM). Alternative Payment Models like the Bundle Payment, no longer pay providers for the volume of care they deliver, but pay based on the value created by measuring quality, patient experience and outcome obtain (did the patient get better). It’s mind-boggling to think that the healthcare payment system was not initially designed like this.
Anyway, here is a brilliant video with Michael Porter showcasing the positive effects on cost, communication, care delivery, and patient experience & outcomes when Bundle Payment Models are implemented.
In Chicago, I have treated many patients status post Total Joint Arthroplasty who have been in Bundled Payment Models. And, excellence and efficiency is the expectation.
Do you work with Bundle Payment patients where you practice? If so, share an example of how it affects the care you deliver?