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How Value-Based Purchasing Will Affect Healthcare Suppliers

Posted by Stan Schroeder on Wed, Jun 08, 2011 @ 10:15 AM
A new program mandated by the federal government is offering opportunities to healthcare suppliers that can tailor their products and services in ways that help hospitals achieve performance benchmarks in categories set by the Centers for Medicare and Medicaid Services (CMS).
 
Starting on Oct. 1, 2012, with the beginning of the 2013 fiscal year, Medicare hospitals and healthcare providers will be required to have in place value-based purchasing (VBP) programs, which will tie a portion of their Medicare payments to performance on measures related to certain conditions, such as heart attacks, heart failure and pneumonia – to name a few. Eventually, other parameters will be added to incorporate "efficiency measures, including measures of 'Medicare spending per beneficiary,'" adjusted for adjusted for age, sex, race, severity of illness and other factors.
 
VBP programs are a way for to CMS to encourage – and provide incentives to – healthcare providers to buy products that can demonstrate value by reducing costs and improving patient outcomes in areas CMS has identified for improvement. Suppliers that can develop and market products and services that meet this need can move ahead of competitors and capture larger shares of the market.
Essential Healthcare Management’s team of experts can help. They work with companies to specifically target products to Medicare hospitals and healthcare providers by devising sales and marketing strategies and by connecting them with key purchasing decision-makers.
 
To learn more, contact us.
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