Remedy CEO Carolyn Magill Cites Bundles as a Catalyst for Systemic Change
The spotlight was on bundled payments this week as CMS delayed the mandatory implementation of bundled payment initiatives for cardiac care and the expansion of the Comprehensive Care for Joint Replacement bundled payment pilot project. The delay, which was consistent with HHS Secretary Tom Price’s known objections to mandatory initiatives, allowed proponents of the Bundled Payment for Care Improvement initiative (BPCI) program, like Remedy Partners CEO Carolyn Magill, to reinforce the program’s success to date.
Magill emphasized the value of engaged participation in Modern Healthcare. Sharing experience from Remedy Partners, which oversees both $5.7 billion in program spending under the CMMI's BPCI initiative and $115 million in its mandatory bundled payment programs, Magill reinforced that providers who choose to participate in bundles are committed to delivery reform.
Bundles will pay a primary role in healthcare reform, she told Becker’s ASC Review, saying “As we move to more value-based care models that encourage efficiency and improvements in care quality, bundled payments will continue to play a central role.".
It is through involvement in multiple clinical areas, not just a single mandatory episode of care, that a real change in an institution’s mindset and the resultant changes to patient care can be seen, Magill told AJMC.com. “The most success happens when we can drive systemic change,” she said.
That success can be measured in savings to the government, as Remedy reinforced in a press release this week. For 2017 alone, Remedy Partners projects cost savings to the Medicare Trust Fund of more than $120 million. Along with these savings, Remedy has seen substantial reductions of unnecessary hospital readmissions among its clients, showing that care quality and the patient experience does not have to suffer when care is delivered at a lower cost.
More than 200 news outlets representing a readership of 87.7 million this week shared this news report, including healthcare focused publications such as McKnight's Long Term Care News, Pharmacy Choice, AMA Alliance, Alliance Health Education Initiative, financially focused outlets including Market Watch, Yahoo Finance, New York Business Journal, and the Boston Business Journal, as well as major metropolitan newspapers like The Miami Herald, The Pittsburgh Post-Gazette, The Sacramento Bee, The Fort Worth Star-Telegram, The Charlotte Observer, The Minneapolis Star Tribune and The Olympian.