Armed with her real-life experience and expertise in the healthcare industry, Deirdre Baggot, Ph.D., MBA, RN, in her latest article for BoardRoom Press, uncovers how the Affordable Care Act and current payment models are affecting not only patients’ ability to pay for medical care but also the ways in which Healthcare organizations can improve their bottom line.
A primer for understanding the leading hurdles that organizations face in terms of offering exceptional patient care as well as the guidelines for transitioning to a bundled payment system are described in detail. Let’s visit some of the key points from her latest article.
Advancements in Healthcare
The state of medical care in today’s developed world is far better than the results seen by our forefathers, as life expectancy has increased by 30 years over the last century while infant mortality rates have fallen dramatically. Despite what most would call an adequately functioning healthcare payment system in America, providers still miss the boat when it comes to providing optimal care. When medical errors account for the third leading cause of death in the United States, it’s clear that there’s still room for improvement in the system.
Baggot illuminates the transformative power of the Affordable Care Act and how it has created better results. By enabling Americans to have greater access to both urgent and preventative care, overall health and survivorship have improved. Couple this uptick in satisfaction with the ability for technology to generate patient data in such a sufficient way as to allow providers to offer better prevention services, and it’s obvious that we’re moving in the right direction.
Successful Steps for Change
It’s no small task to completely transform an organization from a fee-for-service based system to a bundled payment model, but it can be done successfully with careful consideration. Baggot’s article highlights a range of factors and proactive steps that healthcare administrators should discuss before “going with their gut,” including:
- Creating an atmosphere that encourages patients to work collaboratively with their provider to manage their healthcare
- Support changes with clear evidence and strong data analysis
- Keep your solutions for executing the change as simple as possible
- Use patient data to identify areas of weakness and execute modifications accordingly
For a full analysis of bundled payment systems and how they can make a positive impact on patient health and organizational growth, read Deirdre’s full article here. As a nationally-recognized expert in bundled payment systems, and the author of over 20 papers on the subject, Deirdre Baggot offers actionable insight into how our healthcare system can improve.
Learn more about her career in healthcare on CrunchBase.