Millions of dollars returned to N.J. doctors, hospitals for cost-saving care
Millions of dollars is flowing back to doctors and hospitals from two of the largest health-care payers in the state as incentive payments for providing timely, quality care that saved money last year.
Horizon Blue Cross Blue Shield of New Jersey, the state’s largest insurer, and Medicare, the government insurance program for those 65 and older, both announced the results of “shared savings” programs with health-care providers.
The payments are part of a nationwide movement that aims to reward doctors and hospitals for providing better care — “payment for value” — rather than more or it, as in the traditional fee-for-service system. The goal is to slow down health-care spending while keeping patients healthier and more satisfied.
Horizon said Tuesday it was sharing $30 million in savings with physicians who are part of its “patient-centered” model of care, which requires them to focus on preventive care and chronic-disease management by reminding patients, for example, to get flu shots and screening tests and fill prescriptions. That keeps patients healthier and avoids unnecessary hospitalizations.
Read more: http://www.northjersey.com/news/millions-of-dollars-returned-to-n-j-doctors-hospitals-for-cost-saving-care-1.1655418