12 Sep Winning the Bundled Payments Race, Part 1
Using Data to Redesign Care
Rocky Edmondson RN, BSN, MBA, CCRN, Senior Director, Bundled Payments, Care Redesign & Management Advisors; Herman Jenich MPP, Chief Analytics Officer; and Matt Frankel, Vice President, Client Analytic Services, xG Health Solutions, September 12, 2017
While Washington lawmakers continue to hit brick walls in their efforts to meaningfully advance healthcare reform, the bundled-payment revolution is marching steadily forward. Healthcare organizations are recognizing the financial and quality-improvement benefits of bundled payments, and the use of voluntary commercial bundles is rising even as mandatory Bundled Payment for Care Improvement (BPCI) options are being suspended.
To win the bundled-payments race, care must be redesigned. It’s a simple, but challenging, formula. Successful redesign efforts depend on a number of factors, including the following:
Accurate and timely data reporting, analysis and insights.
Physician and leadership buy-in
Reduced variability of care (including on-site, next-site and third-party care)
In future posts, we will explore methods of achieving physician and leadership buy-in and reducing variability. Today, our focus is on data analytics.
First and foremost, we want to underscore this message: understanding the causes of success is essential to knowing how to identify and maximize future opportunities. Bundled payment programs act as an incentive for effective care redesign, and both require robust data reporting and analysis capabilities.
Effective data analytics:
Incorporate reliable data from multiple sources..
Highlight care-redesign successes and opportunities for improvement.
Create actionable insights, practical strategies and realistic benchmarks.
Maximize the effective use of resources.
Identify issues that require further research.
Evaluating and interpreting clean, reliable data using expert analysts with real-world, in-depth experience is essential to achieving the goals of bundled payments, which include higher-quality care, better patient outcomes, and reduced medical costs.