The need for a value-based care healthcare model has been well documented and discussed over the past few years. It has been widely accepted as the “future of healthcare” and seen as the answer to the biggest woes of the current healthcare system. Physician burn-out? Implement value-based care. Decrease in office visits? Implement value-based care. Costs too high? Implement value-based care.
The time for action is now yet, for some, it’s no easier today than it was 5 years ago to make the leap. With fee-for-service keeping the lights on, resources scarcer than ever before and small independent practices fighting to stay competitive, it’s easy to look at value-based care as a nice to have, but ultimately unattainable, pipe dream.
If you feel like you’re playing a game where the rules are constantly changing and it’s impossible to get ahead; it might be time to try a new tactic.
To successfully transition from a fee-for-service model to a value-based care model practices need the resources – both the people and the technology – to support it. With human resources in short supply, the case to rely on technology and/or outsource services is stronger than ever before.
The key to a successful value-based care model is access to consistent, reliable data. Data that answers the question, “How are we doing and what can we be doing better?”. With that information in hand practices can make important decisions about where to allocate their resources and what to focus on that is going to drive the most impact within their patient population. By proactively identifying care gaps and lagging quality measures, the team can put measures into place that increase patient satisfaction and outcomes and decrease the total cost of care. In short, for those transitioning into a value-based care model, access to good, actionable data can make the difference between success and failure.
Technology is imperative to driving efficiencies, visibility, and insights but when it comes to delivering care nothing beats human connection. Having enough people to manage both in-office interactions and continuous care for patients between visits is the best way to make an impact on patient engagement, outcomes, and satisfaction. This can be a big challenge, as increased headcount equals increased costs – not to mention the added complexity that nationwide nurse shortages adds.
Care management and remote patient monitoring can be a very successful tool to capture consistent patient data over time, keep patients engaged, and improve quality measures while also maintaining the status quo of office operations. By employing a third party to provide these services your office staff can focus on hands-on care while leveraging the efforts of a fully remote workforce. Working in tandem allows the practice to ramp up its value-based care initiatives without dropping the ball on its fee-for-service business.
One of the major takeaways from the pandemic is that the reliance on FFS office visits leaves the healthcare industry, and specifically small independent providers, vulnerable to shifts in market behavior and demand. Value-based care, on the other hand, drives financial stability and consistency. Using the model above allows for a slower, more manageable transition.
It also accommodates for the shifting dynamics of patient needs on an ongoing basis since a good care management program will address the needs of individual patients from a holistic sense – taking into consideration social, financial, mental and physical limitations or barriers.
Change, while often challenging, will drive innovation and quality and when it comes to healthcare in America, that change can’t come fast enough.
Need help? Wellbox has been implementing care management programs that drive results since 2015. Contact us today to get started.
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