Value-based care is not a new concept
We’ve been watching the shift from fee-for-service to value-based care for years. However, the strategy to ensure both payers and providers succeed in a quality-focused care delivery system is not well defined. While I don’t have the definitive recipe for success, one thing I have seen throughout my time in this space that significantly improves the odds is a strong partnership between payers and providers
I realize this is easier said than done, especially as payers and providers face different barriers to complete and accurate risk capture. For example, providers face extensive administrative tasks, including delivering and scanning forms, performance monitoring and incentive program management. While essential to the value-based care model, such tasks can erode physician engagement and limit action on insights that improve patient care.
Payers also face significant challenges, including the inefficient flow of information, ineffective processes and evolving regulations. Additional issues can emerge when financial incentives are misaligned, or payers and providers don’t share a cohesive strategy for success.
Despite the challenges on both sides, payers and providers ultimately want the same thing — positive patient outcomes. I’ve worked with many providers in the last few years as they transition to the value-based care model. I’ve come to rely on 3 key things to improve collaboration: people, processes and technology.