With the rising healthcare costs in the United States, the need to transition from the quality-based care to value-based care is increasingly gaining momentum. One of the methods that have been looked upon to help minimize the healthcare costs and shift the system towards value-based care is bundled payment system (Hirsch et al., 2016). The idea behind the bundled payment method is that it focuses on the care coordination and opportunities on the best care provider to treat the specific target population of patients whenever such expertise is needed. The goal of this payment system is “to reduce costs, improve quality and allow the care providers to gain access to the significantly new sources of revenue” (Althausen & Mead, 2016). As the healthcare reforms move into the future, many see bundled payment system as the way to save the future health care system of the United States and move it towards a cost-effective and more efficient system.
The bundled system of payment is, therefore, the continued future into the care system as it promises many benefits that can reform the currently most effective US care system. One of the reasons why this system is more efficient and best for the future is that it gives the care providers a strong incentive to cut their costs in many ways including prevention of avoidable complications such as medical errors (Press, Rajkumar & Conway, 2016). With this move, the system not only stands out to save the costs but also to improve the quality of the care moving into the future. Under the bundled payment system, “a single payment is made for all of the services associated with an episode of care, such as a hip or knee replacement or cardiac surgery. Services might include all inpatient, outpatient, and rehabilitation care associated with the procedure” (Iorio, 2015). This helps reduce the costs, improve quality and reduce preventable complications. This is, therefore, the best and most efficient system for the US healthcare moving into the future.
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References
Althausen, P. L., & Mead, L. (2016). Bundled payments for care improvement: lessons learned in the first year. Journal of orthopaedic trauma , 30 , S50-S53.
Hirsch, J. A., Leslie-Mazwi, T. M., Barr, R. M., McGinty, G., Nicola, G. N., Silva, E., & Manchikanti, L. (2016). The bundled payments for a care improvement initiative. Journal of neurointerventional surgery , 8 (5), 547-548.
Iorio, R. (2015). Strategies and tactics for successful implementation of bundled payments: bundled payment for care improvement at a large, urban, academic medical center. The Journal of arthroplasty , 30 (3), 349-350.
Press, M. J., Rajkumar, R., & Conway, P. H. (2016). Medicare’s new bundled payments: design, strategy, and evolution. Jama , 315 (2), 131-132.
