Value-Based Care

Hello, LinkedIn community!

In the next few posts, I'd like to talk about Value-Based Care (VBC), a concept in healthcare that is changing the way we pay for and receive care. VBC is a model that rewards providers for keeping you healthy, not for how many tests or treatments they give you. It focuses on quality, not quantity.

VBC is different from the traditional Fee-For-Service (FFS) model, where providers get paid for every service they provide, regardless of the outcome. VBC, on the other hand, pays providers based on the results they achieve, such as improving patient health, reducing costs, and enhancing patient satisfaction.

However, not everyone has adopted VBC yet. There are many barriers to this change, such as:

• Patients may not know what VBC is, how it works, or how it benefits them. They may not seek VBC options or work with their providers to make the best decisions for their health.
• Data is essential for VBC, as it allows providers to measure performance, identify gaps in care, and tailor interventions to individual patients. However, data is often hard to share and analyze across different systems, due to technical, legal, or organizational issues.
• Providers may be reluctant to adopt VBC, as it requires them to change their workflows, culture, and mindset. They may be used to the FFS model, where they have more control over their practice. They may also doubt the benefits of VBC, or fear losing revenue or market share.
• VBC involves shifting some of the financial risk from payers to providers, as providers are rewarded or penalized based on their performance. This means that providers may face losses if they fail to meet quality or cost targets, or if they face unexpected events, such as pandemics or natural disasters.
• VBC is subject to various rules and regulations at the federal, state, and local levels, which may change over time. These rules may affect how providers can contract, bill, report, and collaborate with other entities under VBC.

VBC has been around for decades, and it has been supported by various programs and initiatives, such as Medicare and Medicaid. However, VBC has gained more momentum and attention in recent years, as healthcare providers, payers, and policymakers have sought to improve patient outcomes while containing costs. It is expected to grow and evolve in the coming years, as more stakeholders join the movement and more innovations emerge in the field.

VBC is not a simple or straightforward concept. It has many nuances, complexities, and controversies. In the following posts, I will explore some of these issues in more detail and share my opinion and perspective on them. You may be surprised by what I have to say, and you may agree or disagree with me. Either way, I hope you will find it interesting and informative.

On a scale of 1 to 10, where do you think VBC adoption in the US is right now? Let me know in the comments section!