With healthcare being a rising issue worldwide, several payment innovations have been put in place to counter the rising need for an efficient healthcare payment system. On October 2018, the unveiling of the next generation of the Alternative Payment Model was commenced by the Centers for Medicare and Medicaid. Ms. Deirdre Baggot, discusses this unveiling calling it a value-driven agenda that for the past 18 months has been riddled with ambiguity.
Ms. Deirdre Baggot is a healthcare business strategist with years of experience. From starting her journey in the healthcare industry with a Bachelor Degree in Nursing from the University of Southern Illinois and a Master of Business Administration from Loyola University Graduate School of Business. Furthermore, she holds a Certificate in Healthcare Leadership from the University of Pennsylvania Wharton School of Business. Finally, She obtained a Doctorate of Philosophy from the University of Colorado. Find out more about Baggot at Resumonk
Ms. Baggot is no stranger to the healthcare industry with years of experience at the Northwestern Memorial Hospital and the University of Michigan Health System. With a spot as a senior vice president for GE Healthcare Partners in California, one of her projects during that time earned the company an annual $6.6 million result. Furthermore, she has written over 20 academic publications on bundled payments and the evolution of payment transactions.
The APM models involve providing quality service and the complete repayment of the cost of care measures. More advanced APMs provide clients with a high revenue with a trade-off where providers accept risks regardless of patient consequences. A bundled payment refers to a situation whereby a paying client revokes a single fixed settlement fee of all the care and services provided to a certain patient during a specified period. If the hospital staff provide a service less than what was expected, the client receives more than the initial cost agreement. If the hospital staff over exceed expectations than what was the determined bundled price, they are set to be paid much less.
Bundled payments for Care Improvement-Advanced Initiative (BPCI-A) qualifies as an APM in that it meets the three based qualifications: utilization of EHR (electronic health record) that is certified, payments are made based on quality of service akin to the MIPS requirements, and the candidates carry a higher nominal amount in regards to financial risk. Due to the double-sided risk of the voluntary bundled program, hospital staff is tested with CMS if they qualify for the 5% bonus by receiving feedback from patients. March 31st marks the date for the first QP determination.
Deirdre Baggot has been leading the charge for bundled payments for many years, and with many years of experience under her belt as a hospital executive, people are beginning to listen. She has worked with more than 200 hospitals to improve relationships with clients and to design and roll-out programs that improve the experience of patients in a clinical setting. Hospitals and physicians have both benefited from her work, and her time as an advisor in the industry has also improved the way that the industry works with payments. Find out more about Baggot at Beckers Hospital Review
Deirdre Baggot has been recognized on a national level for her work in the field of medicine with bundled payments and has been a keynote speaker at many different conferences related to medicine. She has spoken at the Bundled Payment Summit, Medtronic, the American Heart Association, Healthcare Financial Management Association, and the American College of Healthcare. She has also written many different papers related to bundled payments as well as reform in the healthcare sector.
Deirdre Baggot studied at the University of Colorado and earned her Doctor of Philosophy while there. She went on to study at Chicago’s Loyola University Graduate School of Business where she received her master’s degree in business administration. Shen is also a Gregory LaVert Scholar and earned a Bachelor of Science degree in nursing. Baggot does plenty of reading and research before she begins to take any idea seriously. If she thinks she is onto something, she will write her idea out next. After this, she takes her idea and presents it to her team who is full of the kind of people that can help to refine the idea. She has learned not to stray too far from her focus and specialty, which is the healthcare industry, and this has helped her tremendously as an entrepreneur.