Darien, Conn.-based Remedy Partners reported 7.7 percent savings achieved under Medicare's Bundled Payments for Care Improvement initiative.
Here's what you should know.
1. Remedy predicts saving the Medicare Trust Fund approximately $120 million at a 7.7 percent savings rate in 2017.
2. In addition to the cost savings, Remedy has reduced hospital readmissions by 11.48 percent in hospitals and 11.19 percent in skilled nursing facilities for quarter one fiscal year 2016.
3. Remedy's positive reports follow news that CMS delayed the effective date for its episode payment models final rule, temporarily halting mandated heart attack and bypass surgery bundled payment models and new coverage for joint replacements.
4. Remedy Partners CEO Carolyn Magill said, "Voluntary bundles have proven to be successful in saving the healthcare system money and improving patient care. As we move to more value-based care models that encourage efficiency and improvements in care quality, bundled payments will continue to play a central role."