NEW: RI Blue Cross & Blue Shield Launches Bundle Payment Program
Monday, October 07, 2013
Blue Cross & Blue Shield of Rhode Island's new 'bundle payment model' bundles payments for better coordination, quality, and costs.
The Perfect Partnership
“We are excited to announce this innovative partnership and payment arrangement, which is a prime example of the broader changes that BCBSRI and our provider partners are working toward each day,” said Peter Andruszkiewicz, president and CEO for BCBSRI. “Providers like South County are creating care models that address fragmentation and benefit from new financial incentives where all providers – physician, hospital, radiology, physical therapy and others – are working with a patient’s primary care physician to manage the patient experience and cost for a total, end-to-end care experience.”
“South County Hospital and its clinicians see the value of treating our patients in a way that considers their entire care experience,” said Lou Giancola, President of South County Hospital. “We are pleased that our quality is being recognized this way by Blue Cross & Blue Shield of Rhode Island, and to be at the forefront of participating in this innovative model of care that is based on patient outcome.”
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The new bundled payment and coordinated care model became available on October 1, 2013 for all BCBSRI members who receive knee and hip replacements at South County Hospital.
Bundle Payment Model
The bundled payment model is becoming more prominent in the healthcare industry and is viewed as an effective way to improve quality while controlling costs, particularly with joint replacement procedures. By providing incentives for quality outcomes and efficient use of healthcare dollars, this approach is intended to lower the overall cost of care and support more collaboration among providers.
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