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The shift to value-based care has been a major aspect of the healthcare industry in recent years, with programs such as the Bundled Payments for Care Improvement (BPCI) Advanced offering an innovative way to improve healthcare quality, patient outcomes, and costs. While participating in the BPCI has its rewards, many providers are struggling to understand the details of how it works and how best to succeed. Here we will outline the three key steps to take for a successful BPCI Advanced experience.
1. Choose the Right Model
The first step for successful BPCI Advanced participation is to select the right model that meets your organization’s needs. By selecting the appropriate model, you will be able to reap the benefits of the program and maximize payments. Take into account all available information when selecting a model, such as understanding thoroughly what is BPCI, performance feedback, care improvement goals, and current patient population. You may even need to select more than one model in order to best meet the healthcare needs of your patient population.
2. Identify Key Performance Measures
In order to take full advantage of the BPCI program and maximize payments, it is important to identify key performance measures (KPMs). KPMs provides a framework for understanding the current performance of your organization and setting improvement goals. Examples of common KPMs include readmission rates, mortality rates, cost per case, and patient satisfaction. Understanding the current performance of your organization and setting goals will help you determine where improvements can be made and how to achieve them.
3. Develop Strategies for Improvement
Once you have identified your KPMs, it is critical to develop strategies for improvement. These strategies should involve all stakeholders, including patients, providers, and payers. Strategies can include changes in care delivery, managing costs, and improving patient satisfaction. It is also essential to ensure that all stakeholders are aware of the strategies being implemented and understand their roles in achieving the goals. By working together, you can create a more efficient and effective healthcare system that benefits all parties involved.
To Conclude
By following these key steps, you can set your organization up for success in the BPCI Advanced program and ensure that you are getting the most out of the program. Taking the time to understand the program and develop a plan to maximize payments will help you achieve your desired success level. With a collaborative approach, you can make healthcare delivery more efficient and beneficial for everyone involved.
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