C162_Paper.docx C162 Application of Healthcare Business and Financial Management Princip

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C162_Paper.docx C162 Application of Healthcare Business and Financial Management Principles College of Health Professions, Western Governors University Application of Healthcare Business and Finan... cial Management Principles A: Value-Based Purchasing: Degree of Implementation Everyone knows that the better a hospital performs the more pay they receive. The Hospital Value-Based Purchasing (VBP) Program gives payments to acute care hospitals for the quality of care that they provided (Centers for Medicare & Medicaid Services, n.d.). Payments are adjusted based on the quality of care that was delivered under the Inpatient Prospective Payment System (IPPS). This point of this program is for hospitals to provide better quality of care and have patients have a good experience while in the hospital. Therefore, hospitals are encouraged through the Hospital VBP Program to improve patient experience, safety of care, efficiency, and quality of care that Medicare beneficiaries receive inpatient (Centers for Medicare & Medicaid Services, n.d.). Medicare patients have diagnosis codes that each hospital have to abide by. The measures of patient safety, patient experience, efficiency and cost reduction, mortality and complications, and healthcare-associated infections are all ways hospitals are scored (Centers for Medicare & Medicaid Services, n.d.). Alexian Brothers Medical Center (ABMC) in Elk Grove Village, IL, embraces VBP in many ways. Clinical decisions and electronic medical records are support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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