Bundled payments can benefit multiple stakeholders in the healthcare industry, according to a Strategy& infographic.
The hospital and physician form a better partnership with incentives aligned on developing better patient outcomes. The physicians are encouraged to support and engage patients more, while the procedure becomes more affordable for the payer, employer and consumer. There will be fewer claims rejected and fewer zero-sum negotiations between the hospital and payers, according to the report.
Here are eight key statistics on bundled payments:
1. Almost all—80 percent—of payers find bundled payments appealing. However, only 50 percent of physicians say they are appealing. Seventy-four percent of consumers and 73 percent of employers find bundled payments appealing. Seventy-eight percent of hospitals say the same.
2. More than half of the hospitals responding to Strategy&'s survey want to increase the procedure number, are settings and partnerships that include bundled payments.
3. More than 80 percent of the hospitals with experience bundling payments report improving patient engagement and increasing alignment with physicians. They also report decreasing administrative costs.
4. Almost half — 40 percent — of the hospitals with bundled payments achieved a 5 percent or more savings.
5. Around 57 percent of physicians said they're willing to adopt bundled payments if their payers adopt them as well.
6. Sixty percent of payers with bundled payments plan to expand their bundling efforts in the future.
7. Overall, employers are expecting bundles to lower the cost of care and provide additional access to high quality care. They're also expecting to see improved employee productivity as a result of the care provided in bundled payments.