What is the future of value-based care and alternative healthcare payment models?
Value-based care (VBC) is successful when the overall health of a population improves. While still up-and-coming in today’s healthcare world, VBC and other alternative payment models gain traction each year. According to Primary Care Collaborative, in just five years, there has been a seven-fold growth in the number of states and territories implementing value-based reimbursement (VBR) programs.
Further, according to CMS, the estimated number of Medicare enrollees covered by participating Medicare Advantage (MA) Value-Based Insurance Design (VBID) model plans will increase by more than 24% in 2023 compared to 2022.
More healthcare providers are accepting value-based care services as a viable alternative to traditional payment models like fee-for-service. But success in this model requires a deep understanding of:
- Quality measures
- HCC risk scores
- Cost and utilization of care
- Patient engagement
- Outreach strategies
- Staff and resource goal alignment
However, taking on risk shouldn’t have to be as scary as it sounds. With Arcadia’s value-based care services, we have decades of experience to help you implement VBC payment models, lower costs, and deliver better care — all based on real data and analytics.
While VBC has a long way to go, its adoption isn’t slowing down. As more providers adopt this payment model, it will continue to grow each year. Get ahead of the curve and find out how you can leverage your own data to unlock incredible insights.