As the U.S. shifts from fee-for-service to value-based payment for health care, it is becoming increasingly important for providers to learn how to succeed with bundled payments. Bundled payments make providers more financially accountable than they are with the fee-for-service system for the total cost of a patient’s treatment and recovery, and they can be used for acute, chronic, or primary care. Today bundled payments are most commonly used to cost-effectively manage a patient’s care in the hospital and over the following 90 days post-discharge. The adoption of this approach has grown significantly over the last decade. In 2020 over 1,000 hospitals and over 700 physician groups participated in the voluntary Medicare bundled payment program. Last September, the Centers for Medicare and Medicaid Services (CMS) announced that it anticipates making bundled payments mandatory in a few years.
How One Hospital Has Succeeded in a World of Bundled Payments
Six lessons from CHA Hollywood Presbyterian Medical Center.
March 30, 2021
Summary.
The pace of the transition from fee-for-service to value-based payments for health care is virtually certain to accelerate in coming years. Consequently, care providers will have to learn how to succeed in the new environment. The approach used by CHA Hollywood Presbyterian Medical Center (HPMC) in Los Angeles to participate successfully in the Centers for Medicare & Medicaid’s Services Bundled Payments for Care Improvement Advanced (BPCIA) model can help other hospitals and physician groups when they undertake the same journey.
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Change Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Change may be the only constant in today's organizations. Here's how to lead through it.