Healthcare reform continues to evolve and, as a new Somnia Anesthesia white paper outlines, the need for hospitals to be prepared for the Value-Based Purchasing (VBP) program is of vital importance.
The white paper, “How Anesthesia Can Help Hospitals with Value-Based Purchasing,” focuses on the critical role of hospital anesthesia departments in ensuring success in the VBP program. Because the operating room is critical to the financial and clinical success of a hospital – accounting for 70% of a facility’s revenue according to estimations – the white paper emphasizes that an effective, accountable and transparent anesthesia services provider is essential in the transition to the new pay-for-performance reimbursement system. It explains that anesthesia providers who are prepared for the shift to VBP have the infrastructure in place to support the hospital’s financial and quality-of-care goals and objectives.
Created by the Centers for Medicare and Medicaid Services (CMS), the VBP program begins in fiscal year 2013 and is an incentive for delivery of high-quality hospital care at a lower cost. Performance is measured by a combination of process of care, patient experience and clinical outcomes. This represents a significant shift away from the traditional volume-based payment system.
Other areas addressed are the factors that led up to the seismic shift in reimbursement methods, the features of the VBP program, and best practices for success with this new business model.
The white paper is free for downloading here.