FRANKLIN, Tenn.--(BUSINESS WIRE)--MedSolutions, a diversified medical cost management company, announced today that it has been selected to participate in the Centers for Medicare and Medicaid Services (CMS) Bundled Payments for Care Improvement Initiative (BPCI) as an Awardee Convener. The move allows the company to expand its current post-acute care offering and accelerate into the growing bundled payments space.
The BPCI program aims to deliver coordinated, high-quality, lower-cost care for Medicare beneficiaries who have experienced an inpatient admission, through a period of 90 days post-discharge. CMS payment is bundled for inpatient (acute) and post-acute services. Organizations participating in the program take risk on the cost of full episodes of care, and share savings generated above the CMS benchmarks from managing the costs for each episode.
As an Awardee Convener, MedSolutions partners with Episode Initiators, such as hospitals, hospital systems, and physician groups, allowing them to quickly become part of this ready-made BPCI solution, and have more impact on their patients’ experiences post discharge. This solution brings MedSolutions’ existing post-acute care program – which provides robust analytics support, case management, care coordination and outreach services – to beneficiaries participating in the Initiative.
“Inclusion in this initiative is a big step for our company’s strategic market and product diversification efforts in core areas such as post-acute care and musculoskeletal management,” said Curt Thorne, MedSolutions’ president and chief executive officer. “It also fulfills a long-term goal for MedSolutions to form true hospital and physician partnerships that positively impact patient experiences across the acute and post-acute spectrums.”
Participating partners will be able to capitalize on savings generated outside of their normal scope, and prepare themselves for additional bundled payment opportunities in the future. The company is currently active as a Model 2 Convener in Phase 1 (analysis) of the BPCI, and will go live in Phase 2 (care redesign implementation) on January 1, 2015.
“This initiative expands our ability to reduce costs as a result of increasing the quality of patient care, and aligns perfectly with our long-standing mission of driving positive change in the health care system,” said Ken Van Cara, MedSolutions’ vice president of new products and innovation. “This is an exciting time to collaborate with CMS and innovative hospitals and physician groups as they seek to drive more affordable and effective patient care.”
About MedSolutions
MedSolutions offers proven, diversified medical cost management solutions that help clients reduce costs while increasing quality of care for their members. Powered by its team of specialized medical professional resources (over 70 doctors and over 220 nurses), extensive evidence-based guidelines, and advanced technologies, MedSolutions supports clients and their providers in ensuring the right, evidence-based care is delivered at the right time to the right patient at the right site.
Flexible management solutions are offered in: Diagnostic Testing and Imaging; Comprehensive Musculoskeletal; Oncology and Cardiology Services; and Post-Acute Care (including participating in the CMS Bundled Payments for Care Improvement Initiative). MedSolutions provides solutions for Commercial, Medicare, Medicaid and other leading healthcare organizations. MedSolutions is proud to help over 33 million Americans receive higher quality, lower cost healthcare. Visit www.medsolutions.com.
