Lessons from Medicare's Demonstration Projects on Value-Based Payment: Working Paper 2012-02

Lyle Nelson

No 42925, Working Papers from Congressional Budget Office

Abstract: This paper summarizes the results of Medicare demonstrations of value-based payment systems, which give providers financial incentives to improve the quality and efficiency of care. Only one of the four demonstrations for which results are available has yielded significant savings for the Medicare program. In that demonstration, Medicare made bundled payments to hospitals and physicians to cover all services connected with heart bypass surgeries, and Medicare spending for those services declined by about 10 percent. The other demonstrations appear to have resulted in little

Date: 2012-01-18
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