Blog & News
By Associated Press | December 26, 2017
Vermont’s Green Mountain Care Board has approved a $620 million budget for OneCare Vermont, the state’s multi-payer accountable care organization.
The budget approved Thursday marks the beginning of a five-year experiment to transform health care in the state. The Burlington Free Press reports the new plan to lower the overall cost of health care will have pay doctors whether their patients are sick or not.
Subsero Health Leads Accountable Care Organization (ACO) to Nearly $7 Million in Shared Savings While Earning a Quality Score of 94%
As a leader in healthcare’s evolution toward value-based care, Subsero Health, a Sarasota-based ACO management company, announced today that one of its clients, Health Point ACO, LLC, has earned the Centers for Medicare and Medicaid Services (CMS) nearly $7 million in savings for the 2016 calendar year.
“While we are proud that our hard work yielded a substantial savings for the government as well as our patients,” said Neil Bedi, Managing Partner, “we are humbled by the superior quality score we earned. The health of our patients is our top priority.”
Bundled payments, whereby a provider or multiple providers are reimbursed a single payment for all their services related to an episode of care, such as a surgery, rather than being paid for each individual service, are meant to reduce spending while increasing the quality of care. With the goal of reducing the volume of services provided, physicians will have to be much more deliberate and proactive in the care planning and coordination.
To learn more about the impacts bundled payments have upon physician reimbursements, I spoke with Inita Bedi, Managing Partner, Subsero. She outlined:
If healthcare’s fee-for-service model, where physicians are paid for each and every instance of care that they provide patients, was a patient, it would be in hospice. Its final days will be painful and scary for many in our industry, not only because its time is drawing to a close, but also because a new, unfamiliar model, value-based care, is rapidly maturing to take its place.
I had the opportunity to sit down with Neil Bedi, Managing Partner, Subsero Health, to discuss the vast and significant reimbursement changes physicians face in the very near future. Below is an excerpt of our conversation where he describes: