The traditional way that people pay healthcare organizations is increasingly being replaced. Industry expert Deirdre Baggot, Ph.D., MBA, RN, says that bundled payments are the way of the future. She says that the traditional system rewards quantity instead of quality which is one of the big reasons that healthcare is so incredibly expensive. It also leads to patient experiences that could be better because people receive unnecessary repeated testing and subpar patient aftercare. Learn more about Deirdre Baggot at Ideamensch.
She says that reforming the healthcare payment system is really complicated and yet worthwhile. Done correctly, the healthcare company will see improvements to their bottom line and their patients will receive better care. The traditional payment system is a one size fits all approach that has too many inadequacies to continue. Bundled payments, on the other hand, is a more streamlined approach that ultimately benefits everyone.
Deirdre Baggot has helped hundreds of healthcare companies make the switch to bundled payments. She gets them to understand the benefits and then offers implementation strategies that have been shown to work. She wrote an article for BoardRoom Press which lays out why traditional payments systems not only negatively impact patients being able to care for their healthcare but also harms the company’s bottom line.
No doubt the developed world is far better off when it comes to healthcare than it has ever been. Lifetimes have increased by an average of 30 years. Some feel that the current healthcare payment system is performing well enough, Deirdre Baggot says, but it certainly isn’t optimal. As she points out, medical errors is America’s third leading cause of death.
She wrote in her article that the Affordable Care Act has shown to produce better outcomes for patients. She says that more people have access to healthcare than ever before and preventative care is saving huge sums of money that would be paid down the road. Follow Deirdre Baggot: https://www.instagram.com/deirdre.baggot/?hl=en