The alternative payment model and value-based payments processes introduced by the Department of Health and Human Services in March 2015 aims at changing the health care payment methods to lower the cost of care and achieve better patient outcomes as the nation moves to the population-based health care (HCPLAN, 2016). Advanced Practice Registered Nurse (APRN) graduates should familiarize themselves with the new payment model because it assists in understanding the requirements of the new payment methods. An APRN gains knowledge about new reimbursement mechanisms and their application in the delivery of care to meet the healthcare goals.
On the other hand, understanding the principles of the alternative payment method helps the APRN promote quality performance in care. The traditional Fee for service (FFS) model aimed at compensating providers for every service they provide leading to increased healthcare costs. Under the new proposed payment method, health professionals get financial and other incentives that encourage them to deliver quality care to patients (HCPLAN, 2016). The new APRN graduate enters the career with the idea of improving quality, encouraging more coordinated care, and reigning in health care spending.
Finally, knowledge of the alternative payment method guidelines and principles plays a critical role when the APRN starts the practice. The APRN must always provide a report on quality measures used when determining the cost of care and use certified Electronic Health Record technology when reporting. According to Sampson (2016), the alternative payment method safeguards the nursing career by offering potential financial risks and better career opportunities. Additionally, the APRN should know how to work within the defined budget; hence, must work with the society by empowering patients to become partners in the health care transformation process.
References
HCPLAN. (2016, Jan 12). LAN Update: APM Framework white paper. Available at
http://www.multiplechronicconditions.org/clinical-practice-guidelines
Sampson, C. (2016). Top 5 Facts to Know about MACRA Alternative Payment Models.
RevCycle Intelligence. Retrieved 9th June 2016 from http://revcycleintelligence.com/news/top-5-facts-to-know-about-macra-alternative-payment-models
