General Electric, Boeing and Walmart have all begun to directly purchase employee healthcare in bundles, driven by the payment model's link to improved patient outcomes and reduced costs, according to the Harvard Business Review.
Bundled care payments cover 100 percent of the cost of an episode of care, from pre-surgery screenings and travel to surgery and rehabilitation. Companies often partner with third parties to negotiate bundles directly with healthcare systems.
Below is a list of five benefits to bundled payments.
- Third parties have a rigorous selection process for healthcare systems and hospitals in their network that assures a high level of quality.
- Pre-set rates for services are competitive because they are negotiated directly between providers and the third party bundled payment services. Hospitals often negotiate lower rates because of the expanded access they gain to a national patient base via these programs.
- A thorough pre-surgery screen process eliminates unnecessary surgeries and their costs, and instead establishes alternative care plans.
- The carefully planned services have led to much better patient outcomes and patient satisfaction rates.
- The plans emphasize standardized services and incentivize providers to follow stricter care plans that cut down on unnecessary costs.
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