The Centers for Medicare & Medicaid Services (CMS) Innovation Center has announced the creation of a new voluntary advanced alternative payment model called Bundled Payments for Care Improvement Advanced (BPCI Advanced).
Participation in BPCI Advanced is voluntary and the model will start Oct. 1 and run through December 31, 2023. The application period for this model is now open and will run from Jan. 11 through March 12.
Under the BPCI Advanced model, participants will take on financial risk for a 90-day clinical episode with a single retrospective bundled payment. CMS has determined the model qualifies as an advanced alternative payment model under the requirements of the Medicare Access and CHIP Reauthorization Act for the purposes of payment incentives under the physician Quality Payment Program.