In a standing-room only session during the second day of Becker’s ASC Review 14th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference + The Future of Spine, Regent Surgical Health CEO Chris Bishop spoke about the transition of total joint replacement (TJR) to ambulatory surgery centers (ASCs) by way of bundled payments.
During his presentation, Bishop made clear that more TJR procedures will be occurring in an outpatient setting, with at least 25% of hip and knee replacements shifting to outpatient facilities by 2025. The advantages of TJRs being performed as an outpatient procedure include a lower risk of patient infection, higher patient satisfaction, as well as, the procedure being performed at a lower cost, he said.
But when Bishop asked the room how many outpatient facilities are currently executing bundled payments, only a handful raised their hands. Looking forward, that number of raised hands is expected to grow.
“We all recognize that Bundles are the buzzword of the meeting,” Bishop told the audience. “Paying for value is absolutely the direction that we’re headed.”
Moving TJR procedures via bundled payments are an excellent tool for driving cost out of the healthcare system while driving patients to facilities, said Bishop. He strongly recommended outpatient facilities position themselves favorably for the future by establishing bundled payments.
As an example, Bishop pointed to a 90-day bundle for a knee replacement. All of the stops along the way were included in the bundle, including the surgeon, anesthesia, the ASC, home heath, durable medical equipment and physical therapy.
Bishop even encouraged stand-alone surgery centers to begin going down the road of administering bundled payments. Smaller, stand-alone centers will have a hard time doing this, he said, so Bishop recommended hiring a consulting firm or align with a bundled payment convener to assist in the transition.
In an upcoming blog post, Bishop and Regent Bundle Leader Chris Stine will explain how to administer bundled payments. Stay connected to Regent news by bookmarking our blog and joining our conversation via Facebook and Twitter.
