Sharonville, Ohio-based Beacon Orthopaedics & Sports Medicine and Anthem Blue Cross and Blue Shield in Ohio are piloting a bundled payment agreement that has saved employers more than $1 million in its first year, Cincinnati Business Courier reported Sept. 15.
The agreement allows more opportunities to perform orthopedic surgeries at Beacon's ASC instead of hospitals.
The program, which launched in July 2020, is centered around total joint replacements and spine surgeries.
"This is an innovative collaboration between a health plan and a physician group that is driving cost savings and quality," Beacon CEO Andy Blankemeyer told the publication. "By shifting more services to an outpatient setting, the savings can be significant."
Beacon was the first orthopedic practice in the area to work with Anthem. Since, more specialists, groups and hospital systems entered into similar partnerships.