DePuy Synthes announces strategic alliance with experts in bundled payments.
DePuy Synthes Companies announced a new exclusive strategic alliance with Value Stream Partners LLC (VSP), experts in design, development, and implementation of bundled payment programs for hip and knee replacements. The announcement was made during the American Academy of Orthopaedic Surgeons 2016 Annual Meeting in Orlando, Fla., in early March.
"This exclusive arrangement with VSP will further enable us to help providers, healthcare systems, and governments face new challenges in healthcare delivery and achieve the triple aim of improving clinical outcomes, increasing patient satisfaction, and lowering overall costs," said Juan-Jose Gonzalez, president of DePuy Synthes U.S. "We're focused on innovation and offering total solutions that go beyond the implant and make a real difference both inside and outside of the operating room."
Beginning April 1, the Centers for Medicare and Medicaid Services (CMS) is requiring acute care hospitals in 67 regions to participate in its Comprehensive Care for Joint Replacement Model, which compensates hospital providers for an entire episode of care--from the time of the hip or knee replacement through 90 days after discharge, rather than merely for the surgery itself. Through this bundled payment model, hospitals will receive additional payments for strong quality and spending performance or potentially have to repay CMS for a portion of the spending for care if performance does not meet set standards.
"There are great clinical and economic incentives for hospitals, physicians, and post-acute care providers to put in place the processes, procedures, and alignment strategies necessary to better coordinate care," Gonzalez said. "VSP has a solid track record in designing, implementing, and administering bundled payment programs with the necessary collaborative, alignment, and balanced incentive strategies to be successful. We look forward to working with VSP to help provide our customers with tools to effectively address the new requirements under the bundled payment model and provide the best care possible for patients."
More than 400,000 Medicare beneficiaries received a hip or knee replacement in 2014, according to the U.S. Department of Health and Human Services.
In addition to the bundled payment initiative, DePuy Synthes Companies offer DePuy Synthes Advantage, a program of more than 20 customized, measurable solutions that help healthcare providers achieve triple aim performance in orthopedics. Solutions span patient and professional education, instruments, and training to help improve efficiencies, and tools to measure performance.