In a recent Consult QD post, Drs. Molloy, Murray and Rueda broke down how bundled payments began at Cleveland Clinic for orthopaedic surgery, how it increased quality measures and ultimately saved the enterprise millions of dollars. Value-based and bundled payment options were also a topic during the 2016 Medical Innovation Summit.
"Transforming Your Orthopaedic Practice: A Case Study," was a panel moderated by Joe Iannotti, MD, Chair, Orthopaedic & Rheumatologic Institute at Cleveland Clinic, and featured leaders from Cleveland Clinic, OrthoCarolina and the Hospital for Special Services . The panel covered the experimental payment structures and shared insights on transforming practice in a way that is beneficial for payers, providers, and patients.
"It doesn't matter who you ask - fee for service is unobtainable," said Kevin Sears, Executive Director of Market and Network Services at Cleveland Clinic. He went on to note that it is HHS' goal that by 2020, 75% of payments will be from a value-based system, and that for the first time, the government is really driving this change, which bodes well for the future. "The deck is stacked towards risk - it pushes any savvy provider to alternative payment paths," continued Sears.
Dr. Iannotti wrapped up the panel by going over the same case study from orthopaedics at the Clinic. To learn more, watch the full panel below.