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Value-based payment models require collaborative efforts among stakeholders
Value-based payment success requires collaboration among multiple healthcare stakeholders, with providers and health plans at the core, according to a new study.
Managing value-based payment models alongside existing fee-for-service models, and across numerous health plans, is creating issues ranging from accurate revenue forecasting to workflow integration challenges, according to "Provider Attitudes Toward Value-Based Payment Models," a study by Availity.
ThThe study provides results relevant to current provider attitudes and concerns regarding value-based payment models. For example, while 75% of providers currently participate in at least one value-based payment model, and more than 60% expect them to become the dominant payment model, fewer than 30% believe they offer a good level of reward for the risk. Furthermore, the study offers insight into current and expected adoption levels, administrative challenges, and attitudes regarding outcomes and cost savings.
Other key findings include:
“The findings in this study provide insight and information managed care and other executives need to improve their collaboration under value-based payment models,” says Russ Thomas, Availity CEO. “The barriers and gaps, in particular, highlight opportunities for leaders to focus their operational improvement efforts and achieve the most value. One of the primary goals of the study was to provide transparency into the issues affecting value-based payment success, and to help foster a healthy dialogue among providers and health plans that would result in early improvements benefitting everyone affected by these models.
The take away is two-fold, according to Thomas: