Big changes are coming to Medicare and Medicaid with a new Alternative Payment Model says Deirdre Baggot. She is an expert on bundled payments and is working hard to help create a system that works better for everyone involved so patients can get the care that they need and healthcare professionals get the payment they deserve. While there is still a lot of confusion about what these new systems will entail, many details were revealed in early October of this year. View Slideshare.com to learn more
When both parties in the government supported and passed the Medicare Access and CHIP Reauthorization Act in 2015, it showed that there was a good amount of commitment to making these much-needed changes in healthcare payments. Some of the changes that were made include repealing the formula for Sustainable Growth rate and changing the rewards systems that Medicare had in place that encourage clinicians to focus on value instead of volume of patients. The Merit-Based Incentive Payments System streamlined several quality programs under the system and fives bonuses for participating in alternative payment models that are eligible in the new system.
Deirdre Baggot believes that these changes will make a big difference in healthcare and will make payment systems much easier to navigate. Bundled payments have a set price for specific conditions and the care that they will require over a set period of time. This model does carry some risk for both CMS and medical providers, Deirdre Baggot states, but overall will be a good option. If the cost of the services provided connected with a bundled payment are more than the price that was initially set, the medical providers are getting paid less than what they would have charged traditionally. On the other hand, if treatment happens to be less than expected, they still get the original set price and get paid more than they’d have been paid before.