The relationship between quality in healthcare and money (CMS reimbursement specifically) couldn’t be more relevant than when you consider the ramifications of finding your organization in an immediate jeopardy status and your ability to receive funds through the Centers for Medicare and Medicaid Services (CMS) Value Based Purchasing programs.
"Hospital Value-Based Purchasing (VBP) is part of the long-standing effort to link Medicare's payment system to a value-based system to improve healthcare quality, including the quality of care provided in the inpatient hospital setting. Participating hospitals are paid for inpatient acute care services based on the quality of care, not just quantity of the services they provide,” according to CMS. Failure to meet CMS’ expectations of quality care has financial consequences that can last up to a year which some organizations don’t consider when they start down the road to Immediate Jeopardy.
Check out the link below for a quick reference guide on Immediate Jeopardy and the impact on VBP. Ensure your leaders are aware of the need to support quality and patient safety programs not just because it’s the right thing to do but also the impact on your organization’s checkbook!
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