Results are in from the first year of a bold change to the way hospitals get paid in Maryland, and so far the experiment seems to be working.
We recently reported on the unique system the state is trying to rein in health care costs. Maryland phased out fee-for-service payments to hospitals in favor of a fixed pot of money each year.
A report in the latest New England Journal of Medicine says the experiment saved an estimated $116 million in 2014, the first year it was in operation.
The state of Maryland and the Centers for Medicare and Medicaid Services struck an agreement that ended payments to hospitals for each procedure, each emergency room visit and each overnight stay. Instead, Maryland hospitals receive a set amount of money — called a global budget – for the whole year, regardless of how many patients they treat.
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4 comments:
When did Maryland stats become an interest to New England?
Is that why when we go to the hospital they just say go see you family dr.
Wondering whether this includes U MD and Johns Hopkins? They are Maryland hospitals, but are universal? I'm okay with that...
Which, by the vey nature of capitalism, means they will restrict, deny, or eliminate every procedure they can find.
they'll get the same amount of money if they do or they don't, but PROFIT will drive their actions.
Because your "leaders" care so much.
Keep cheering.
Just understand THIS --- if the hospitals get to choose between giving you an expensive test or procedure, or raking in a few hundred thousand more dollars, sorry, but you're going to die.
Maybe PRMC could reduce the million dollar salaries of some of their executives, who work about 10 hours a month. Then, they could actually free up some money for HEALTH care instead of rich welfare.
Probably not though.
Keep cheering.
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