2016 Postmortem
Related: About this forumThanks Gov O'Malley: Budget Switch For Maryland Hospitals Is Starting To Pay Off
We recently reported on the unique system the state is trying to rein in health care costs. Maryland phased out fee-for-service payments to hospitals in favor of a fixed pot of money each year.
A report in the latest New England Journal of Medicine says the experiment saved an estimated $116 million in 2014, the first year it was in operation.
The state of Maryland and the Centers for Medicare and Medicaid Services struck an agreement that ended payments to hospitals for each procedure, each emergency room visit and each overnight stay. Instead, Maryland hospitals receive a set amount of money called a global budget for the whole year, regardless of how many patients they treat. In essence, Maryland flipped financial incentives for hospitals. In the past, more patients meant more revenue. Now, with revenue fixed for the year, hospitals benefit when patients are healthy and stay out of the hospital.
story from NPR at
http://www.npr.org/sections/health-shots/2015/11/11/455635722/budget-switch-for-maryland-hospitals-is-starting-to-pay-off
Original study from the New England Journal of Medicine:
http://www.nejm.org/doi/full/10.1056/NEJMp1508037
elleng
(130,126 posts)estimated $116 million in 2014, the first year it was in operation.
The state of Maryland and the Centers for Medicare and Medicaid Services struck an agreement that ended payments to hospitals for each procedure, each emergency room visit and each overnight stay. . .
In essence, Maryland flipped financial incentives for hospitals. In the past, more patients meant more revenue. Now, with revenue fixed for the year, hospitals benefit when patients are healthy and stay out of the hospital.'
FSogol
(45,355 posts)No one on DU seems to be interested in issues and accomplishments are not seen as positives.
elleng
(130,126 posts)Today's a bright and shiny day, so I feel a bit better. This is SUCH good news!
sabrina 1
(62,325 posts)ideas and would make a good president imo.
People should be interested in these kinds of achievements, if that is what they care about, issues.
Applause for O'Malley for accomplishing this.
elleng
(130,126 posts)I/we appreciate that you recognize his accomplishments.
bigtree
(85,915 posts)...Md., under O'Malley, went it's own way on healthcare and it's paying off. This is the latest fantastic example.
elleng
(130,126 posts)FANTASTIC! (Unfortunate that rational programs are properly characterized as 'fantastic.')
Koinos
(2,792 posts)Can you imagine what a "President O'Malley" could accomplish for health care nationally?
O'Malley continues to impress me and never disappoints.
I think that part of his problem is that his accomplishments are so numerous and his resume so solid that it goes right past sound-bite minds.
I am very proud of him and very proud of Maryland.