Remedy Partners Announces that One Hundred Percent of its Hospital Partners Achieve Positive Net Payment Reconciliation Amount (NPRA) in Bundled Payment Initiative
DARIEN, Conn.–(BUSINESS WIRE)–Remedy Partners, the nation’s leading bundled payment company, shared the latest financial results achieved by its partners, revealing that 100 percent of the company’s hospital partners participating in Medicare’s voluntary bundled payment model exceeded the financial targets set by the Centers for Medicare and Medicaid Services (CMS). These results demonstrate the positive impact that care redesign and coordination are having on the outcomes of Medicare beneficiaries included in the Bundled Payments for Care Improvement (BPCI) program.
“These are the strongest results reported by our hospital partners since the BPCI initiative launched in 2013,” said Chris Garcia, chief executive officer of Remedy Partners. “We are so pleased that our hospital partners continue to improve well beyond the targets established by Medicare.”
Remedy Partners accepts risk in the BPCI initiative alongside hospitals, hospital medicine groups, independent physician group practices, skilled nursing facilities and home health agencies, of which 81 percent experienced positive results.
“The latest results demonstrate the success of including a data-driven approach to care redesign. The ‘episodes of care’ framework that CMS launched has been instrumental in creating partnerships between the acute and post-acute settings, resulting in significantly improved coordination of care for Medicare beneficiaries qualifying for this program. We look forward to Medicare’s expansion of the BPCI initiative in 2018 and providing our services to a larger portion of the Medicare community,” said Garcia.
Medicare’s leadership previewed “BPCI Advanced,” the successor model to the original program, this summer. Remedy Partners’ analysis shows that providers are expected to achieve even greater efficiencies and improved performance in this next model, while also enhancing the overall standard of patient care. As the largest Awardee Convener in BPCI, with more than 900 partnerships, Remedy Partners is uniquely positioned to assist healthcare organizations participating in the program by providing working capital, risk management, advanced analytics, workflow software, decision support tools, administrative and paying agent services and unparalleled expertise and best practices.
“The new data shows that healthcare organizations, particularly hospitals, are reporting demonstrable savings as they take on more risk in bundled payments,” said Win Whitcomb, MD, MHM, chief medical officer at Remedy Partners. “With Medicare’s plans to expand the voluntary bundled payment program, it is no longer a question of whether bundles can improve quality and decrease costs—it is how much.”
About Remedy Partners
Remedy Partners delivers software and services that enable payers, employers and at-risk providers to organize and finance healthcare delivery around a patient’s episode of care. For healthcare providers, Remedy Partners’ software, analytics and administrative services support bundled payment contracts with Medicare and commercial insurers, principally through shared-risk partnerships. For payers, Remedy Partners empowers the development of bundled payment contracting programs and guides development of bundled payment networks. Remedy Partners presently delivers its services to partners at more than 1,000 healthcare locations nationwide.