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It Is a Brave New World: Alternative Payment Models and Value Creation in Total Joint Arthroplasty: Creating Value
Kevin K Chen1, Jonathan H Harty1, Joseph A Bosco1
1Department of Orthopaedic Surgery, NYU Langone Medical Center, Hospital for Joint Diseases, New York, New York.
Background:
The increasing cost of our country's healthcare is not sustainable. To address this crisis, the federal government is transiting healthcare reimbursement from the traditional volume-based system to a value-based system. As such, increasing healthcare value has become an essential point of discussion for all healthcare stakeholders.
Methods:
The purpose of this study is to discuss the importance of healthcare value as a means to achieve this goal of value-based medicine and 3 methods to create value in total joint arthroplasty.
Results:
These methods are to: (1) improve outcomes greater than the increased costs to achieve this improvement, (2) decrease costs without affecting outcomes, and (3) decrease costs while simultaneously improving outcomes.
Conclusion:
Following these guidelines will help practitioners thrive in a bundled care environment.
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