The Orthopaedic Institute, a Gainesville, Fla.-based orthopedic practice, signed a contract for bundled payments with Florida Blue Cross Blue Shield.
The agreement took effect May 25 and focuses on total and partial first-time elective joint replacements. The Orthopaedic Institute has 10 locations in Florida, including two ASCs. The group has 41 specialty physicians.
"The Orthopaedic Institute's value-based care agreement with Florida Blue underscores our commitment to providing superior patient experience and high-quality outcomes all at a lower cost of care," said Rich Gilbert, MD, CEO of The Orthopaedic Institute.
The new contract will bring thousands of Florida Blue members into the practice's network, and follows a larger trend toward bundled payments in orthopedics and ASCs. Orthopedic practices and surgery centers with bundled payment capabilities can go beyond traditional contracts with payers to direct-contracting with large employers and cash-based, episode-of-care payments for patients with high deductibles.