Bundled Payment Model
Are bundling versus fee for services payments valid financial methologies to be considered in the healthcare delivery system?
Bundled payment model: In this type of payment model the providers and healthcare facilities are rewarded a single payment for all the services performed to treat patients going through a particular treatment modality delivered within a specific period of time (“Understanding….”2016).
Fee for service model: In this type of payment model the health care providers are paid for each of the services performed. (“Fee….”).
The different areas within the United States spend dissimilar sum on the health care of people living in these areas though the outcomes have not improved over a period of time. The fee-for-service payment …show more content…
Subsequently, it does not encourage low-cost, high-value services which involve preventive care or patient education. The reforms are being made which balance the already prevailing private-sector improvements and boost implementation of substitutes to the existing fee-for-service system. These alternate means of payment form encouragements for preventive care and better care coordination, specifically for patients with chronic illnesses. Although these efforts are still in their beginning stages but the initial experiences and results do suggest that these reforms can increase the quality of care and lower costs (“Alternatives….” 2012).
The Bundled payment model: It is an alternative means of payment which involves a set amount of payment for the inpatient hospital services and physician services, and post-acute care services. As this model involves a fixed amount to be paid by the insurer to treat the patients, all the healthcare providers would have motivation to organize and provide the care that the patient actually needs. The complete team of providers would be focused on improving quality as the providers reimbursement would depend on the quality and patient experiences (“Alternatives….” …show more content…
• Little emphasis on primary care.
By making some changes in them the patients would be able to get quality care but at less cost because the premiums, deductibles, and cost-sharing decrease. Therefore to achieve these results, investments in personnel and technology is required along with a committed leadership (“Alternatives….” 2012).
REFERENCES
Belliveau,J. (2016, July 14). Understanding the Basics of Bundled Payments in Healthcare. Retrieved from https://revcycleintelligence.com/news/understanding-the-basics-of-bundled- payments-in-healthcare
Fee for Service -HealthCare.gov Glossary. (n.d.). Retrieved October 10, 2017, from https://www.healthcare.gov/glossary/fee-for-service/
Calsyn, M., & Lee, E. O. (2012, September). Alternatives to Fee-for-Service Payments in Health Care. 1333 H Street, NW, 10TH FLOOR, Washington, DC. Retrieved from
Bundled payment model: In this type of payment model the providers and healthcare facilities are rewarded a single payment for all the services performed to treat patients going through a particular treatment modality delivered within a specific period of time (“Understanding….”2016).
Fee for service model: In this type of payment model the health care providers are paid for each of the services performed. (“Fee….”).
The different areas within the United States spend dissimilar sum on the health care of people living in these areas though the outcomes have not improved over a period of time. The fee-for-service payment …show more content…
Subsequently, it does not encourage low-cost, high-value services which involve preventive care or patient education. The reforms are being made which balance the already prevailing private-sector improvements and boost implementation of substitutes to the existing fee-for-service system. These alternate means of payment form encouragements for preventive care and better care coordination, specifically for patients with chronic illnesses. Although these efforts are still in their beginning stages but the initial experiences and results do suggest that these reforms can increase the quality of care and lower costs (“Alternatives….” 2012).
The Bundled payment model: It is an alternative means of payment which involves a set amount of payment for the inpatient hospital services and physician services, and post-acute care services. As this model involves a fixed amount to be paid by the insurer to treat the patients, all the healthcare providers would have motivation to organize and provide the care that the patient actually needs. The complete team of providers would be focused on improving quality as the providers reimbursement would depend on the quality and patient experiences (“Alternatives….” …show more content…
• Little emphasis on primary care.
By making some changes in them the patients would be able to get quality care but at less cost because the premiums, deductibles, and cost-sharing decrease. Therefore to achieve these results, investments in personnel and technology is required along with a committed leadership (“Alternatives….” 2012).
REFERENCES
Belliveau,J. (2016, July 14). Understanding the Basics of Bundled Payments in Healthcare. Retrieved from https://revcycleintelligence.com/news/understanding-the-basics-of-bundled- payments-in-healthcare
Fee for Service -HealthCare.gov Glossary. (n.d.). Retrieved October 10, 2017, from https://www.healthcare.gov/glossary/fee-for-service/
Calsyn, M., & Lee, E. O. (2012, September). Alternatives to Fee-for-Service Payments in Health Care. 1333 H Street, NW, 10TH FLOOR, Washington, DC. Retrieved from