“As people look to get into value-based care, finding that collaborative payer, that’s really a key part. Another way that you can go is just to find a good vendor that you feel like you could have a good partnership with.”
Bradley Hunter
If you’re only taking on a small percentage of risk, you’re putting the rest of your fee-for-service revenue at risk. This is because value-based care targets the root of problems affecting a population’s health. Once you resolve a core issue across your population, patients come in for elective surgeries less because they’re taking care of themselves and have a reduced need for this type of care.
But taking on increased risk can be daunting. Hunter suggests easing the burden by finding strong partners in both payers and vendors.
Many providers find themselves under multiple value-based contracts with sometimes 70 quality measures that they need to report on. A collaborative partnership with payers and vendors, however, may be able to reduce those measures to 12 across all contracts.
Sitting down together at the table and getting consensus on the quality measures that are actually important can help providers drive the conversation around how their value-based care contracts are structured.
“That’s been really eye opening for a lot of folks and something that I’ve seen consistently with those that are taking on substantial amounts of downside risk,” says Hunter. “They regularly have those conversations with payers.”
These aren’t the only ways to future-proof your healthcare business