San Diego, CA, May 6, 2015 —- California based Global One Ventures in partnership with Blue Shield of California (BSC) launches the Bundled Fee Program which provides a pre-determined single payment option for an episode of care at an Ambulatory Surgery Center (ASC).
The program is designed to provide alignment with the facility, surgeon and anesthesiologist to which leads to a high quality outcome in a lower cost setting. It is designed for a particular pre-diagnosed condition requiring surgery, such as, orthopedic and joint replacement surgery.
The single payment option reduces waste and redundancies by creating true alignment of all providers around a surgical episode of care. The program has the potential to dramatically reduce cost, while providing budget certainty to patients, payers and/or employers.
The BSC Bundled Fee Program is expected to be the main payment methodology for surgical episodes (for PPO members), in next 5-10 years.
“The single payment option motivates the facility and physicians to function as one team and to adopt best practices,” states Global One Ventures Principal, Tom Wilson. “This program was developed out of a need for transparency in pricing for routine surgeries performed at an ASC.” The advantage to patients, surgeons and providers are robust and easily implanted in the ASC setting:
Advantages to the Patient:
- One price, One deductible and/or co-pay, One EOB, One Stop Service.
- No hassle with multiple bills.
- Cost transparency to the patient.
- Lower cost than other options.
- Significantly less chance for infection and complications.
- Enhanced “patient centric” experience and greater patient satisfaction.
Advantages to the Surgeon:
Professional “physician centric” experience, combined with the ability to perform higher acuity cases in the ASC setting resulting in lower infection and complication rates.
- Improved productivity due to efficiencies.
- Active participation in the episode of care and clinical outcomes.
- More marketable to patients seeking increased value and personal care.
- Global One will handle program approvals required by BSC for the Bundled Fee Program.
- Ease of billing.