CMS has announced 4,122 providers will be added to phase 1 — the exploratory, non-risk bearing stage — of the Medicare Bundled Payments for Care Improvement initiative, joining the 2,412 providers already participating.
The BPCI initiative involves four different payment models, depending on the type of healthcare providers involved and the nature and time frame for services included in the bundle. The BPCI program offers several potential strategic opportunities for providers, such as reducing costs, improving quality, providing a platform for more meaningful physician engagement and allowing hospitals to gain a better understanding of the total cost of care.
"Through the Bundled Payments for Care Improvement initiative, CMS is taking another step forward in identifying models that will provide better quality of care and improved health for Medicare beneficiaries, at lower costs for our nation's taxpayers," CMS officials said in a statement. "We are very pleased with the additional interest in the initiative, and we expect a number of phase 1 participants to continue to phase 2."
In phase 2, healthcare organizations are held accountable for financial and quality performance for episodes of care. For phase 2, CMS already has bundled payment contracts with 243 providers across all models.
More articles on bundled payments:
Bundled Payment Program Progress: 6 Things to Know
3 Strategic Advantages of CMS' Bundled Payment Initiative for Post-Acute Care Providers
The Importance of Physician Involvement in Shared Savings Programs