Even as value-based contracting proliferates, the financial incentives for hospitals and medical groups to eliminate waste and improve care have barely changed.
The dictionary defines vaporware as a product that has been widely advertised but has not and may never become available. Last week's twin announcements on the imminent move to widespread value-based reimbursement in healthcare bring the concept to mind.
U.S. healthcare providers and insurers start from widely divergent places as some of the largest move to put most of their business into payment models that reward lower cost and higher quality care.
Several of the nation's largest health systems and insurers are joining together in a new task force with the goal of shifting 75% of their business to contracts with incentives for quality and lower-cost healthcare.
By 2018, half of Medicare spending outside of managed care will be tied to incentives to manage quality and costs, federal officials said Monday. That was greeted with enthusiasm but also with warnings that the effort will be wasted if the new models are too weak or built on flawed measures.
Insurer Universal American further scaled back its participation in the Medicare Shared Savings Program in the final months of last year, exiting another six accountable care organizations. The publicly traded health insurer remains the largest single participant in the program.
Stony Brook University Hospital and not-for-profit Southampton Hospital, both in New York state, are closer to a merger that has been three years in the making. The merger is a step toward creating an accountable care organization that includes both facilities, hospital officials said.
Accountable care organizations across the country are in sharply different stages of aggregating and using patient data to improve quality of care and reduce costs.
By now, the accountable care organizations in the CMS Innovation Center's Pioneer ACO model were supposed to have shifted half their total business into risk-based contracts by selling the structure they honed in the federal program to Medicaid and private plans.
A joint venture with the large, California-based independent practice association is aimed at advancing Trinity's efforts to coordinate care for specific groups of patients.
If I believed in reincarnation, I would think that American hospital CEOs must have done something wicked in an earlier life to be condemned to their current role in this life.
The CMS Innovation Center paid $2.6 billion through September to hospitals, doctors and others through nearly two dozen programs that tested new ways to deliver healthcare and pay for it.