Do We Truly Understand Value-Based Care?

Are U.S. healthcare providers really thinking about value-based care the right way? Modern Healthcare says the short answer is no, or at least, not yet.

According to Dr. Hal Teitelbaum, CEO of Crystal Run Healthcare, the problem needs to be redefined as 'health,' not healthcare.

Healthcare spending is on track to make up nearly 20% of GDP by 2025, and reducing spending is a big priority as the industry moves from a fee-for-service system to a value-based one. Negotiations continue to increase between government and the private sector to create value-based contracts and alternative payment models like accountable care organizations, bundled payments, and population health models even as fears arise of the cost to the industry.

Even as population health initiatives focus on bringing down costs and improving care quality for the most at-risk patients in society, the balance must be struck with also providing care for the majority that need much less care, if any at all.

How is your organization transitioning to value-based care? Do you struggle to find the balance between doing more and doing less?