New Healthcare Payment Models

With ICD 10 transition around the corner payment reforms in the healthcare industry can be confusing. However, the new healthcare payment models make the whole exercise much simpler. Healthcare providers are required to change their economic incentives to encourage value rather than volume. A fee for service or FFS model is the traditional way that many healthcare providers are paid. Over the course of a long treatment individual expenses such as blood tests, CT scans, and doctor’s visits can add up to a significant sum. Healthcare technology companies like Jvion offer predictive modeling healthcare with healthcare benchmarks analysis to help providers define their clinical quality improvement goals.

Patient centered payment models

 

Patient-centered medical homes can also benefit from these new healthcare payment models. They provide set monthly payments in addition to existing funding models to fund a team of primary care professionals. This could include physicians, medical assistants, psychologists, specialists, and nurse practitioners, to name a few. The team works closely in building a strong network with patients and caregivers. The funds can be used to hire nurse or provide special care and attention to high risk patients with the objective to reduce visits to the emergency room and other related problems that may arise in the future.