11-16-2021, 05:27 AM
The term “Value-Based Care” was introduced several years ago. It has become the all-encompassing phrase to describe healthcare’s attempt to shift away from a Fee-for-Service (FFS) only model. The concept is straightforward…tie payer reimbursements to a set of outcome data points. Simple, right? If you do well and achieve performance over the set benchmark then you are rewarded, usually in the form of financial bonuses or increased reimbursements. If you don’t perform well, you either miss out on the bonus money or take a hit and have your reimbursements reduced. That’s where the simplicity ends.
Grading your “performance” is where the complexity all begins. Imagine playing a football game in which each quarter, the opponent, the rules, and even the stakes change. Yet, you are expected to adapt to each set of circumstances and play the game with the same team. This fictitious scenario is eerily similar to one of the biggest issues with the Value-Based Care initiative. There are numerous payer models, programs, services, and CPT codes that all fall under its umbrella. So where do you start? Is one better than the other? Is there a natural progression to follow? Do you just stick your head in the sand and do nothing?
These are questions that are hard to answer and often lead to analysis paralysis. Download your VBC program comparison guide today.
Grading your “performance” is where the complexity all begins. Imagine playing a football game in which each quarter, the opponent, the rules, and even the stakes change. Yet, you are expected to adapt to each set of circumstances and play the game with the same team. This fictitious scenario is eerily similar to one of the biggest issues with the Value-Based Care initiative. There are numerous payer models, programs, services, and CPT codes that all fall under its umbrella. So where do you start? Is one better than the other? Is there a natural progression to follow? Do you just stick your head in the sand and do nothing?
These are questions that are hard to answer and often lead to analysis paralysis. Download your VBC program comparison guide today.