Fear of Missing Out (or #FOMO, if you are one of the cool kids) is a real thing. Normally, it applies to seeing someone doing something really cool on Instagram, instantly becoming insanely jealous, and attempting to do the same thing—only to miserably fail.
It’s like a Pinterest disaster, but with real people, and photos that never really disappear.
So, what would FOMO look like in value based care?
It might look like some unfortunate orthopedist having a bad afternoon on a hang glider. More than likely, it would actually look like waiting to select your Convener for the Bundled Payment for Care Improvement – Advanced (BPCI-A) Model Year 3 until the very last moment and missing your chance to start the implementation process early.
Squandering the chance to strengthen your bottom line by waiting to choose a Convener might be the hang-gliding accident of healthcare: Both are totally avoidable, and both will leave you with a lot less money and a lot more regret.
The complete BPCI-A Model Year 3 timeline can be found here, and the deadline for signing and submitting a Participation Agreement and Participant Profile will occur in November. However, Acute Care Hospitals (ACHs) and Physician Group Practices (PGPs) do not have to wait. Selecting your Convener now is the fastest way to start unlocking the revolutionary power and stronger bottom line that bundled payment programs and value based healthcare strategies deliver.
And if you don’t start early, other ACHs and PGPs will.
All hang-gliding jokes, there is no such thing as FOMO in value based care. There is only AMOAFRYBD: Actually Missing Out And Forever Regretting Your Bad Decision. True, AMOAFRYBD is a long, unpronounceable acronym, but those nine letters might as well spell another word: truth.
The truth is that providers all over the country have seen how bundled payments deliver a stronger financial performance and more-effective, efficient care. At Fusion5, our clinical team have helped reduce Medical Cost Ratio (MCR) by more than 15% in the first operating year, reduced 30-day readmission rates by 15%, and delivered patient-satisfaction scores of 98% or better.
Choose your Convener now and you can begin implementing a bundled payment program that will revolutionize your financial and patient health. If ACHs and PGPs wait until the last minute, they really will miss out—and forever regret their bad decision.
Or, AMOAFRYBD. Unless you are one of the cool kids.
Then it’s #AMOAFRYBD.