New Jersey’s Hackensack University Medical Center (HUMC) is working with Hackensack Alliance ACO to transition into value-based payment models.
Clinical integration is key, according to executives. In order to achieve this, organizations need to move from episodic care to population management by developing and cultivating infrastructure at all levels of care delivery. Additionally, providers must manage transitions of care across all sites of service and between clinicians, while also adopting clinical treatment protocols.
According to HUMC executive vice president and CFO Robert Glenning, his organization is “not trying to boil the ocean.” Glenning recently spoke on the matter at the Healthcare Financial Management Association’s annual ANI conference last week.
“We’ve got some very, very clear goals and we understand that those goals aren’t really the complete picture…But if we go with trying to boil the ocean kind of strategy, than nothing of substance is going to come,” he said at the conference, as reported by Healthcare Finance News.
Glenning added that the next step is to move physicians toward bundled payments and to evolve a co-branded Medicare Advantage plan. A strong bundled payment program will engage a larger community of providers, according to HUMC. Furthermore, they are vital to help develop a population management infrastructure, while also aligning financial incentives among providers.
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