Happy New Year from the MedBen Analytics team, as well as everyone else at MedBen! I hope that 2018 brings you good health and prosperity.
While MedBen Analytics is a fairly recent addition to our service line, MedBen itself has been around for quite a while… in fact, we’ll be celebrating our 80th anniversary this May. And I believe this blend works to the advantage of our clients – we have the energy that comes with a new offering and decades of experience in medical claims management to guide it.
The past year in value-based care has been, to say the least, interesting. The expectation was that in 2017, we would see the introduction of bundled payment initiatives for cardiac procedures and hip and femur fractures. But following multiple postponements, the Department of Health and Human Services cancelled those programs and scaled back the existing Comprehensive Care for Joint Replacement (CJR) model.
Despite these changes, we enter 2018 excited for the future of value-based care… and for the continued success of MedBen Analytics clients, many of whom received reconciliation payments in 2017.
Although mandatory programs have been reduced, the Centers for Medicare & Medicaid Services (CMS) looks to be expanding the voluntary Bundled Payments for Care Improvement (BPCI) Initiative. While the first phase of this program will end in September, CMS is apparently pleased with the savings to Medicare that BPCI has produced and is expected to announce phase two soon… and I expect that many hospitals and health systems that have been watching from the sidelines so far will be eager to participate in the program.
Ultimately, the success of bundled payment and other alternative payment models rests on the acceptance of those providers who see its potential benefits and willingly invest in value-based care. Our goal is to maximize that value to the advantage of you and your patients with reporting that is both detailed and straightforward, but most importantly offers actionable insights to help you save money while maintaining quality care.
One more thing: We always value your input. If you ever have a comment, question, or suggestion, do not hesitate to call me at 888-633-2364. I look forward to speaking with you in 2018.
Sincerely,
Kurt Harden
President & COO, MedBen