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BHM has solid experience and top level experts who understand the importance of the transition to value based reimbursement. |
Value-based care reimbursement models (VBR) are becoming a popular choice for many healthcare providers and payers, as fee-for-service, (and traditional incentive based payment models), are phased out. According to a recent McKesson survey “Journey to Value: The State of Value-Based Reimbursement in 2016,” 58% of payers and hospitals are planning to adopt value-based care reimbursement models.
Findings of the McKesson
- Payers are estimating that 60% of payments will be tied to a combination of capitation/global payment, pay for performance, and bundled payment within five years
- Bundled payments are the fastest growing VBR option and expected to grow 6% over 5 years according to health plans
- Capitation/global payment and shared risk take second and third place in the growth
- It’s estimated that bundled payments are going to top 17% of medical payment within 5 years for hospitals and payers
- Only 50% of payers and 40% of providers are ready to implement bundles
Tips for Switching to a VBR Model
- Review and revise your strategic plan to fit VBR methods.
- Collaborate with external providers or payers to help make the exchange of information and data easier.
- Payers will need to focus on Population Health.
- Think about how infrastructure will be affected by new care delivery models.
- Evaluate clinical processes for efficiency.
- Embrace clinical decision support tools to “enhance decision-making in the clinical workflow.”
- Provide training at all levels of your organization to ensure every team member is on board and ready for the change.
- Implement and track quality measures to gain sophisticated and meaningful data.