In the spectrum of payment models, with fee-for service on one end and capitation on the other, bundled payments is somewhere in the middle. No single payment model has been completely successful in the past, but there is no dispute that cost reduction must be one of the primary goals of any model that all stakeholders can agree on.
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Healthcare reform is driving unprecedented changes in the management, funding and delivery of care as hospitals develop and implement strategies to achieve higher quality care at lower cost. The problem many hospitals face involves the gaps in data between costly supplies, and how they are managed in the item master and chargemaster. Having links and systems in place to audit and validate the item to charge accuracy is crucial. Without this foundation, providers lose the ability to trust their physician quality outcome assessments and episodic care analytics.
The evolution of our healthcare system from a volume-based to a value-based model is driving provider organizations to adopt patient-centric, outcomes-based success metrics for operational processes in both acute and non-acute settings.
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