WATERTOWN, Mass.--(BUSINESS WIRE)--According to a survey conducted by Archway Health – a Boston-based firm specializing in managing bundled payments programs – participation in bundled payments has improved the quality of care, and anticipation and preparation for new programs remains high. The survey assessed the perceptions and efficacy of bundled payments ahead of the expected announcement of a new bundled payments program from the Centers for Medicare and Medicaid Services (CMS).
The survey results are based on responses from 70 participants across the U.S. The participants, which included executives, administrators and clinicians, represented the continuum of healthcare from hospitals, specialty care, post-acute facilities and home health care.
Key findings from Archway’s survey indicate the impact of bundled payments:
- 75% of respondents say involvement in these programs has improved quality of care, whether it lowered costs or not.
- 63% of respondents say bundled payments has both improved quality and lowered cost.
- The most prominent reason for not participating in bundled payments was the potential administrative burden. No respondents cited a limited return on investment as a reason for not participating.
“It was great to get such a strong and positive response that confirms what we’re seeing with our provider partners – bundled payments work,” said Dave Terry, founder and CEO of Archway Health. “Bundled payments will continue to play a major role in healthcare as we move from volume to value, especially as we move toward models that encourage efficiency and improvements in care quality. Archway is dedicated to helping specialists succeed in all of these programs as they continue to grow.”
Other findings from the survey indicate healthcare professionals’ attitudes towards bundled payments:
- As CMS is expected to release a second generation of Bundled Payments for Care Improvement (BPCI), 75% of respondents are “definitely” or “probably” planning to participate.
- When it comes to bundled payments, 25% of healthcare professionals say they are “100% ready” to implement them, while 56% are “getting prepared” or “just started the process” with more to do.
“It’s great to see that healthcare professionals want to participate in bundled payments and are actively preparing to do so,” said Keely Macmillan, general manager of BPCI for Archway Health. “Bundled payments offer clinicians and healthcare professionals the opportunity to take control of the entire care process and ensure patients achieve the best outcomes in a cost-efficient manner.”
Since its inception in 2014, Archway Health has been active and solely focused on bundled payments. Specialists and providers partner with Archway to receive guidance on how to navigate every step of bundled payments participation.
To learn more about bundled payments, the survey, the anticipated new CMS program and how it impacts providers, please contact info@archwayha.com.
About Archway Health
Archway Health, founded in 2014 and built on a deep foundation of healthcare payment reform expertise, works with providers to design and execute care and risk management initiatives that drive success in bundled payment programs. Archway is currently working with leading healthcare providers participating in the CMS BPCI and OCM programs, as well as with commercial payers operating bundled payment initiatives. To support these programs, Archway works with providers to analyze their opportunities and risks and to deploy its comprehensive platform of analytics, patient tracking tools, and advisory services to ensure their success in bundled payments. For more information, please visit www.archwayhealth.com.