The Centers for Medicare & Medicaid Services (CMS) has recently decided to cancel two of their different payment models. These models were previously considered mandatory. The CMS also scaled back one of their other payment models. These payment models were removed or changed to streamline the overall payment process.
While bundled payments for those on Medicare and Medicaid was originally intended to make healthcare providers more accountable for the quality and cost of their services, that hasn’t been the result. Instead, the system has presented issues for providers, hospitals, and patients.
On January 30, three corporate tycoons — Amazon, JPMorgan Chase & Co., and Berkshire Hathaway — announced that they were joining forces to create an independent healthcare company for their employees, with the goal of providing more transparency at a lower cost.