Medicare has announced a new initiative to lower costs. According to the U.S. Department of Health and Human Services (HHS), Doctors, hospitals, and other health care providers can now apply to participate in a new program known as the Bundled Payments for Care Improvement initiative (Bundled Payments initiative).
This initiative is designed to encourage providers to coordinate care, improve the quality of care and save money for Medicare. "Patients don't get care from just one person - it takes a team, and this initiative will help ensure the team is working together," said HHS Secretary Kathleen Sebelius. "The Bundled Payments initiative will encourage doctors, nurses and specialists to coordinate care. It is a key part of our efforts to give patients better health, better care, and lower costs."
There are several options that providers can choose from. You can review the initiative in its entirety at www.healthcare.gov/news/factsheets/deliverysystem07272011a.html.
HHS fact sheet - http://www.healthcare.gov/news/factsheets/bundling08232011a.html
Federal Register Posting - http://www.ofr.gov/OFRUpload/OFRData/2011-21707_PI.pdf