The Case for Bundled Payments in Health Care
Tuesday, June 28, 2016
|4:30 PM - 5:30 PM||US Eastern|
|3:30 PM - 4:30 PM||US Central|
|2:30 PM - 3:30 PM||US Mountain|
|1:30 PM - 2:30 PM||US Pacific|
|8:30 PM - 9:30 PM||GMT|
In the United States as well as many other countries, the dominant health care payment model has been and continues to be fee-for-service (FFS), where providers are paid based on their volume of services. FFS has produced high volume, high costs, and inadequate quality. It is seen as perhaps the single biggest obstacle to improving health care delivery.
In a new Harvard Business Review article, Harvard Business School professors Michael Porter and Robert Kaplan make the case for bundled payments as a superior payment model to today’s fee-for-service. They say that bundled payments are better than capitation, which may deliver modest short-term savings but will bring significant risks and will not fundamentally change the existing system or the nature of competition in health care.
On June 28, in a live, interactive Harvard Business Review video webinar, Porter and Kaplan will explain why bundled payments represent a real fix to today’s broken health care system. They will outline how bundled payments will trigger competition between providers to create value where it truly matters—for individual patients experiencing specific conditions. They also will describe how improved quality and lower costs will follow the adoption of bundled payment.
And they will review the challenges of transitioning to a bundled payments-based approach and share examples where robust proof of concept already exists.
If you want to know how health care will be paid for in the future and the impact this will have on the delivery system, join HBR and Porter and Kaplan on June 28.
About the Speakers
Bob Kaplan is Senior Fellow and the Marvin Bower Professor of Leadership Development, Emeritus at the Harvard Business School where he has taught for more than 30 years. Kaplan received a B.S. and M.S. in Electrical Engineering from M.I.T., a Ph.D. in Operations Research from Cornell University, and several honorary degrees.
Kaplan has authored or co-authored 14 books and more than 150 papers including 25 in Harvard Business Review. He has co-developed both activity-based costing and the Balanced Scorecard, measurement systems that link operations to strategy implementation. For the past six years, he has collaborated with Michael Porter on a major project to improve the value of health care– better outcomes at lower costs – delivered to patients.
Michael E. Porter is a leading authority on competitive strategy; the competitiveness and economic development of nations, states, and regions; and the application of competitive principles and strategic approaches to social needs, such as health care, innovation, and corporate responsibility. Porter is generally recognized as the father of the modern strategy field, and has been identified in rankings and surveys as the world’s most influential thinker on management and competitiveness. As the Bishop William Lawrence University Professor based at Harvard Business School, Porter has received the highest professional recognition that can be awarded to a Harvard faculty member.