New payment models intend to help practices, but may presently hinder care
By Admin | June 29, 2016
A joint study conducted by the RAND Corporation and the American Medical Association reports that the diversity of new healthcare payment models and increasing amounts of data are overwhelming physician practices.
Both private payers and the federal government have changed how they pay healthcare professionals. They’re moving towards innovative models that should improve quality and reduce costs.
However, there are some growing pains.
Some practices have chosen to partner or merge with other practices and hospitals in order to support the time and financial investments in order to find success with the new payment models. Some practices have restructured their business models to match the payment models, however some payment models conflict with others.
Payment models included in the study of 34 physician practices in six states include episode-based and bundled payments, shared savings, pay-for-performance, capitation and retainer-based practices.