Fact Checked

Improving Financial Agreements Between Healthcare Providers and Payers

Since the healthcare industry operates like most other businesses, it's hard to make changes to the system without some kind of financial gain involved. It's unfortunate that the country allows for the industry to act this way, but at this time, it's the way it has to be for now. Throughout the industry, payers and providers are coming up with financial agreements that will motivate providers to improve their processes, which in turn, will benefit the payers and patients.

P4P

The pay for performance (P4P) system is the most basic out of these arrangements. It is relatively straightforward in its execution. This incentive-based system rewards providers that improve certain established metrics, such as the amount of preventative screening treatment a percentage of patients will receive in a year. This arrangement is basic, but has shown abilities to improve the system.

Bundled Payments

Another financial agreement that can help shape the healthcare industry's future is a bundled payment agreement. In this arrangement, a payer gives a single payment for all provider services that would encompass a period of care. An example of this period of care would be treating somebody with diabetes, or heart failure. In the past, each service involved in treating these diseases would be billed separately by the provider that performed it. By bundling these payments into one, the arrangement holds providers accountable as a group and forces them to work together to prevent duplication and waste valuable materials. These bundled payment agreements have become more and more popular, with employers such as Walmart and Lowe's announcing that they've negotiated with four centers to provide and perform knee and hip implant procedures.

We're On The Right Track

The United States healthcare system may have its problems, but overall, it has helped so many people treat their diseases and illnesses effectively. With changes in policy, technology, and financial matter, we can hopefully approach a point in our country's history where the healthcare system works for everybody involved. Until that point, you must do what you can to receive discounts on otherwise expensive prescriptions and medications. That's where USA Rx comes in. With our pharmacy discount card, you can save up to 75% on medications that you use on a daily basis. The card has no limitations, and can be used by anybody within the United States, whether they are insured or not. With over 60,000 pharmacies nationwide accepting our card, why not try our service out and see why so many people have decided to join our discount program. Visit our website today and apply for your free pharmacy discount card!