A healthier population with fewer claims translates into less drain on payers’ premium pools and investments. Value-based payment allows payers to increase efficiency; however, transition to a value based payment model is a slow process involving some risk. To make a successful transition, payers can assess value-based payment models to gain perspective of the challenges and drivers of success.
HealthScape Advisors partnered with the Health Plan Alliance to survey plans about their experiences, approaches, and performance under value-based payment models. In doing so, HealthScape surveyed over 30 health plans through a standardized questionnaire and follow-up executive interviews to more deeply understand each organization’s journey towards value-based care and supporting fee-for-value payment models.
The survey of health plans focused on the following key areas:
- Perspectives on value-based payment models and drivers of success
- Common themes and distinctions across market segments and products
- Effectiveness of health plan operating models in supporting execution
- Differences in performance between provider-sponsored health plans (PSPs) and traditional health plans (Non-PSPs)
- The insights collected reflect an industry in transition. The survey results demonstrate a wide variety of approaches, reported successes, and challenges in driving affordability and quality outcomes through value-based payment models.
Click HERE for the survey results and to review an Infographic with Healthscape’s recommendations to health plans looking to continue to evolve their value based payment strategy.
Understanding the drivers of success for the potential for value-based payment models will allow payers to significantly improve the transition process by emulating models of success. Clickdiscuss how BHM uses claims data for payer expense management.