For physicians considering moving to value-based programs, the Rothman Institute serves as a notable best practice and their strategic plans for leveraging the new government benchmark data to drive and expand their success are worth serious consideration
Louisville, KY (PRWEB) October 06, 2015
Joshua Rosenthal, PhD, Chief Scientific Officer and Co-Founder at RowdMap, Inc., will be joining Mike West, Chief Executive Officer at the Rothman Institute to jointly speak on how doctors can use newly released government data to identify and capture hidden value to succeed in value based risk arrangements. The presentation, entitled “Capturing Your Hidden Value: Using Newly Released Government Benchmark Data to Select Value Programs and Negotiate Risk Arrangements,” will be delivered at the Medical Group Management Association (MGMA) 2015 National Conference on Tuesday, October 13th, 2015, at the Gaylord Opryland Resort & Convention Center, Nashville, TN. http://bit.ly/1Lc0HKD
MGMA equips medical practice leaders with the information and tools they need to thrive and represents more than 33,000 administrators and executives in 18,000 healthcare organizations in which 385,000 physicians practice. As the leading association for medical practice administrators and healthcare executives for nearly 90 years, MGMA provides the essential education, legislative information, and data and career resources to help improve patient services and operational efficiencies. The MGMA 2015 National Conference is focused this year on change and innovation, specifically the transition from Fee for Service economic models to value-based programs and risk arrangements.
Success in a value-based model or risk arrangement comes from improving the efficiency, quality and experience of care. Last year the US spent $850BB on low and no value care from higher intensity, and riskier treatment options that deliver no additional benefits to patients. Thirty cents of every dollar and up to 42% of patients receive his care every year. This low and no value care is driven by a Fee for Service (FFS) economic model where doctors and hospitals are paid more for doing more, and higher intensity treatment. This unnecessary spending far outweighs fraud, waste and abuse, but is not identifiable from traditional utilization reviews and unit cost analysis.
The Centers for Medicaid and Medicaid Services (CMS) has launched a series of new innovation models including bundled payments and flat fee programs such as the Bundled Payments for Care Improvement (BPCI) while other bundled payments focus on orthopedic care such as the Comprehensive Care for Joint Replacement Model (CCJR). http://innovation.cms.gov/initiatives/ccjr/
In order to facilitate and drive success in these value programs CMS has made historic data releases including the largest data set of doctors and hospitals in history that support identifying provider practice patterns with national and regional benchmarks. https://www.cms.gov/Newsroom/MediaReleaseDatabase/Press-releases/2015-Press-releases-items/2015-06-01.html
RowdMap, Inc. Chief Scientific Officer, Joshua Rosenthal, PhD, will deliver a presentation on how providers can use these public data sets to determine their practice patterns around no and low value care and pick the value based program or negotiate with a health plan partner to achieve success using the Rothman Institute as a case study.
“The Rothman Institute is a national leader in orthopedic treatment, literally having written the books on the subject but their real leadership is in their ability to mitigate unnecessary spending for low and no value care. Their practice patterns exceed national and regional benchmarks for Risk-Readiness (SM) and are incredibly well aligned for value based programs and risk arrangements. For patients, this means they really are the medical home for musculoskeletal care in Pennsylvania and New Jersey. For physicians considering moving to value-based programs, bundled payments or other risk arrangements, the Rothman Institute serves as a notable best practice and their strategic plans for leveraging the new government benchmark data to drive and expand their success are worth serious consideration as example.” Joshua Rosenthal, Chief Scientific Office, RowdMap, Inc.
Those interested in learning more are encouraged to contact RowdMap, Inc. directly or visit RowdMap, Inc. at the MGMA 2015 Annual Conference on October 11th-14th at the Gaylord Opryland Resort & Convention Center, 2800 Opryland Drive, Nashville, TN 37214.
About RowdMap, Inc. :
An Ernst and Young EY Entrepreneur Of The Year® winner, RowdMap helps health plans, government payers, providers, and hospital systems develop Risk-Readiness (SM) strategies to excel as they transition from fee-for- service to pay-for value. As CMS sunsets fee-for-service payments, RowdMap's Risk-Readiness (SM) Platform helps payers and providers identify and manage unwarranted and unexpected variation. RowdMap identifies ideal provider arrangements based on provider practice patterns and population characteristics within a geography. Payers and providers then use RowdMap to build strategies around these new risk relationships. RowdMap helps them enter new markets, segment populations, identify waste, design products, and understand referral patterns. RowdMap's platform comes preloaded with government benchmarks out of the box no IT integration required. RowdMap's Risk-Readiness (SM) Platform works across all market segments and has significantly larger returns than traditional, medical economic approaches.