BATON ROUGE, La., Jan. 29, 2015 /PRNewswire-USNewswire/ -- Our Lady of the Lake Regional Medical Center in Baton Rouge, Louisiana is now offering a guarantee for hip and knee replacement surgery. This Value Guarantee® provides reassurance to patients, employers and insurers that they will not receive any additional bills for costs associated with surgery-related follow-up care that occurs within 30 days of the procedure.
Our Lady of the Lake is the only hospital in Louisiana and among a select few in the country to offer a surgery guarantee to patients and their insurance companies. The Value Guarantee® covers the full range of care — admission, anesthesia, surgery and recovery — for an adult patient's hip or knee replacement when all services are provided by Our Lady of the Lake and its physician partners. To participate in the guarantee program, the patient must pledge to be an active participant in his/her care and recovery.
This pledge includes attending pre-operative education classes and other pre-surgical evaluations as well as adhering to all post-surgery instructions and follow-up care. The Value Guarantee does not cover costs associated with a failure of the implant.
Scott Wester, Chief Executive Officer of Our Lady of the Lake said the Value Guarantee is not only evidence of high-quality care; it is also a key component in controlling healthcare costs for insurers, employers and patients themselves.
"Our Value Guarantee® demonstrates to employers and insurers that we will address the overall cost of care by eliminating the need for post-surgical follow-up care or not charging for this care in the rare instance it is necessary. This guarantee is only possible because our team of skilled physicians and team members stand behind their work," said Wester.
More than 719,000 knee replacement surgeries and 332,000 hip replacements were performed in the U.S. in 2010, according to the National Center for Health Statistics. The Lake's joint replacement program, Lake Joint Effort, performs more than 1,500 total joint surgeries each year. In 2013, the program met or exceeded the quality benchmarks for these surgeries in overall quality, readmissions, mortality and patient experience.
"Our goal is to be the leader in quality care in our market, and this Value Guarantee® is our way of demonstrating the confidence we have in our quality outcomes to everyone we serve including our patients, employers and insurance companies," said Wester.
The Value Guarantee® follows Our Lady of the Lake's selection as the only hospital in Louisiana to participate in the Medicare Bundled Payments for Care Improvement initiative. A project of the CMS Innovation Center, this is a quality improvement strategy that identifies and implements best practices for hip and/or knee replacement surgery. Through this program in which Our Lady of the Lake receives a single payment for all costs associated with a hip or knee replacement surgery, Medicare patients receive the same promise outlined in the Value Guarantee.
"The fact that Our Lady of the Lake is offering this guarantee is a clear demonstration that the hospital understands the commitment made by myself and other orthopaedic physicians to always achieve the best outcomes for our patients," said Dr. Bryan Griffith, orthopaedic surgeon. "Through our participation in the bundled payment program with CMS, we demonstrated that by adhering to a set of best practices, our orthopaedic team achieved the best outcomes for patients undergoing hip and knee replacement surgeries."
For more information about the Value Guarantee, www.ololrmc.com.
About Our Lady of the Lake
Our Lady of the Lake is a not-for-profit 850-bed medical center in Baton Rouge, Louisiana with more than 7,300 employees committed to building a healthy community through excellence in patient care and education. With a Regional Medical Center, dedicated Children's Hospital, and 300-provider Physician Group, Our Lady of the Lake provides comprehensive healthcare services for common to complex conditions. Our Lady of the Lake is a primary teaching site for graduate medical education programs and is recognized in the areas of heart and vascular, trauma and emergency care, stroke, cancer care, minimally-invasive procedures and more.
SOURCE Our Lady of the Lake