LOUISVILLE, KY--(Marketwired - January 17, 2017) - Signature HealthCARE's participation in the Bundled Payment for Care Improvement (BPCI) program initiated by the Center for Medicare and Medicaid Innovation (CMMI) is yielding favorable results, including lower costs, improved quality of care and reduced readmission rates.
As a result of this innovative initiative, Signature HealthCARE predicts the BPCI initiative will be one of the dominant episodic care models by 2020.
"The BPCI program challenges us to deliver quality over quantity and focus on episodes of care rather than separate procedures," said Signature HealthCARE's Chief Strategy Officer George Burkley. "The result is healthier people. We're seeing the outcome firsthand in our facilities, and others are reporting much of the same. We believe the BPCI initiative is a key model of the future; thus, we are accelerating organizational reform toward episodic care inside our facilities."
Recognizing the imminent transition to risk-based, episodic care, Signature HealthCARE began participation in the BPCI program in April 2015. The initiative accelerated the long-term care provider's management capabilities, including the development of analytical models to track the activity of those being served within the BPCI program as well as to assign individuals into risk categories and adjust care and case management activity accordingly.
According to CMMI, the BPCI initiative proposes to test four models that align hospital, physician, and where appropriate, post-acute provider payment incentives. Providers enter into payment arrangements that include financial and performance accountability for episodes of care and share with each other gains accrued from more cost-effective care. It is anticipated that the use of these models will lead to high quality, more coordinated care at lower cost to Medicare.
Additionally, Signature HealthCARE has been successful in delivering the care provided within the BPCI program at a cost below the program's target. This success has resulted in CMMI returning a portion of the savings each quarter to Signature HealthCARE, thus benefiting the organization. More importantly, this program drives down the cost of care to the market.
About Signature HealthCARE
Signature HealthCARE is a family-based, long-term health care and rehabilitation company with locations in 11 states, and has 20,000 employees nationwide. The company's organizational culture is founded on three pillars: Learning, Spirituality and Intra-preneurship. A growing number of Signature centers are earning five-star quality ratings, the highest classification from the Centers for Medicare & Medicaid Services. The company was nationally recognized as "Best Places to Work" by Modern Healthcare in 2013 and 2015. For more, visit ltcrevolution.com.