Regent Surgical Health, one of the largest privately held surgery center development and management companies in the United States, released a white paper today. The paper, Design & Operationalize Your Bundled Payment Program: Three ways to accelerate from concept to execution, outlines three steps toward the execution of a bundled payment program that can greatly reduce the cost of certain high-volume, high-cost procedures within an ambulatory surgery center (ASC).
A bundled payment is designed to compensate multiple care providers through a single, negotiated payment for all treatments. While the concept of a bundled payment is deceptively straightforward, first movers in the practice and ASC market have found that moving from concept to execution is incredibly complex.
According to research by ORC International and commissioned by McKesson, bundled payments have a projected growth of six percent over the next five years, placing bundled payment at 17 percent of all medical payment types by the year 2022.
“The bundled payment trend is growing and for good reason,” said Regent CEO Chris Bishop. “Providers and payers recognize the opportunity to greatly reduce the cost of certain high-volume, high-cost procedures like total joint replacements and spinal fusions. However, structuring the bundle to ensure every partner is aligned and executes is extremely complicated. Fully understanding all risk factors and how everyone interacts is crucial to developing a program that maximizes the opportunity for the surgeons and ASCs involved.”
As the nation’s leading surgery center management and development company, Regent understands the nuances, the stakeholders, and the plethora of moving parts. The new white paper is a primer for physicians and ASCs to understand where bundles are today and to help those interested accelerate through the learning curve to get to speed with the market. Key points within the white paper include:
- Closing the knowledge gap
- Negotiating a bundle
- Identifying key stakeholders
“The opportunities presented by value-based care and bundles are far reaching,” says Regent’s Director of Bundled Payments & Corporate Compliance Officer Chris Stine. “As providers realize the value of the bundled payment for the population of patients that are more middle of the pack in both projected needs and costs, the shift continues towards value-based reimbursement, and bundled payments will continue along in tow.”
Regent Surgical Health owns or operates 22 U.S. surgical facilities, 19 hospital joint ventures, two bundled payment entities, and 14 total joint replacement centers.
The white paper is available for download now.