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.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.