Blue Cross and Blue Shield of Florida, Jacksonville, has become the latest insurer to launch a pay-for-performance initiative that rewards doctors for improving quality of care and reducing healthcare costs. Beginning this month, about 3,000 doctors across the state will be eligible to earn bonuses of up to $10,000 a year under the insurer's Recognizing Physician Excellence program.
The size of physicians' annual bonuses -- which will average $3,000 to $4,000 -- will be based on quality of care, patient satisfaction and clinical and administrative efficiency, as determined by analyses of claims data, patient surveys and other measures.
The program will initially be available to doctors who treat a large number of the Florida Blues' members in family practice, general practice, internal medicine, pediatric medicine and obstetric and gynecology practices, but the 6.5 million-member insurer said it plans to expand the specialties and criteria for evaluation in coming years.
An increasing number of payers have begun rolling out bonus programs in an effort to combat soaring healthcare costs and improve patient care by more closely linking providers' pay to their performance. Blue Cross and Blue Shield of Michigan, Detroit, announced a similar $11 million bonus program late last month.