A Radiation Oncology Bundled Payment And More: What You Need To Know
When it comes to oncology, how you handle payments can make all the difference. Not only does it allow your healthcare organization to maintain better revenue forecasts — but it also empowers patients to receive quality care while meeting their other financial obligations.
In this blog post, let’s cover bundled payments for care improvement. That way, you can promote health equity, improved outcomes, and increased revenues simultaneously.
A BPCI helps in several ways. For instance, it can move the price of your services to a more balanced position – averaging what services cost to create more health equity.
The Oncology Care Model (OCM) uses episode-based bundling, for instance. It promotes high-value care centered around patients’ needs. The base price is a benchmark for various types of cancer and specialties of your practice.
Practices receive additional monthly revenues based on the services they provide. There are also opportunities to reduce expenditures by providing higher quality care.
There are numerous advantages to bundling payments for patients, including:
As healthcare payments move to managed care systems, costs can be better controlled and planned for.
For instance, at Guideway Care, we help you reduce operating expenses by enhancing bottom-line performance. This is thanks to value based arrangements and the right bundled payment model.
When your patients receive better care, you don’t need to readmit them as often. This helps improve their finances, lifestyle, and outlook. It also maintains better standards within your health practice.
Ensuring operational efficiency is of the utmost importance for any healthcare organization. With bundled payment models, you can stabilize revenue. This prevents resource drainage from vital departments. Instead, your staff can work diligently to grow your practice in new ways.
Keep in mind that the higher your clinic’s capacity, the more people you can serve. This benefits the community, as well as your entire staff.
At Guideway Care, we provide an operation model that thrives on human interaction. Our patient activation platform is the engine behind everything, as it truly takes into account the needs of the patient.
When working with our team, your healthcare services will meet your patient’s needs better. As a result, you can grow your organization while offering optimal health outcomes.
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