Value-based care is a paradigm shift from a conventional care delivery model. It is the transformation of care delivery from volume to the quality of care and embracing the incentives on reducing the cost of care delivery. Value-based care focuses on the entirety of the patient experience, rather than focusing on just segment of the clinical process.
Recently, HHS Secretary Sylvia Mathews Burwell urged healthcare providers to strategize the future with a focus on improving the value-based care. “Our nation’s doctors and clinicians are bound by a shared commitment to care for their patients, but incentives matter. In the system we seek, providers collaborate to create a coherent care experience. They have the flexibility to innovate, and will be rewarded for quality outcomes that suppress costs.”
To achieve this she shared the vision of a three-part strategy:
‘First, we want to change the way we pay, so that we reward the value of care and patient outcomes rather than the quantity of services.
Next, we want to improve care delivery by promoting coordination, along with prioritizing wellness and prevention.
Finally, we want to unlock health care data and information, so that doctors can make the most informed decisions possible and people are empowered to be active participants in their care.’
For the past few years clinicians and healthcare providers have participated in many programs, such as, Physician Quality Reporting System (PQRS), Physician Value-Based Modifier (VM) and Inpatient Quality Reporting (IQR) that were instrumental to ensure the quality of care and rewarding them if they meet quality standards while reducing the operational cost.
For providers it is focused on evaluating their care model, improving it where it is required by incorporating technologies and techniques that are patient centric. For patients, it is meant to provide them affordable and effective care at a reduced cost.
Under the current reforms, clinicians and physician practices are required to realign their delivery model and improve it any many areas.
Facilitating the patient in every single way in the care delivery process by allowing them to take many decisions on the way. They should be actively using their patient portal and must have easy access to all of their medical records. Providers should facilitate them in scheduling appointments, communication during the care delivery and providing the effective treatment with proven techniques by undertaking their preferences.
Technology Assisted Workflow
Automation of clinical workflow with electronic systems optimizes the overall performance of practice. An advanced Electronic Health Record (EHR) system can automate the workflow in many ways. With the system, practices can manage their daily schedule, can electronically archive and manage patients’ clinical information and medical records, on top of that can bring accuracy to clinical data and medical bills. Empowering your practice with a robust EHR system would automate the workflow and adds up immense value to daily procedures.
Make Informed Decisions Based on Analytics
Dig deep into your business data, analyze and learn from the analytics. Learn from the mistakes and errors done in the near past, introduce standard operating procedures and clearly set the responsibilities. Stay in touch with the latest updates and news in the healthcare industry and position your practice by the state laws and regulations. To excel in the value-based care delivery model, decide clearly of which payment model your practice would pursue.
Value = Quality + Resource Use
CMS has introduced the Merit-Based Incentive Payment System (MIPS) and to qualify for that physicians must demonstrate a reduction in healthcare costs and overall improvement in efficiency. Quality, resource use, and clinical practice improvement activities define the criteria to be eligible for incentive payments. The best way to make you practice profiting after the Medicare Access and CHIP Reauthorization Act (MACRA) final rule is by improving the quality of care and utilization of resources at an optimum level.
Communication and Social Networking
Make your practice available over the networks that patients use. Create your digital profiles, update them regularly and interact with your patients on these networks. Your availability to your patients at social networks would augment the reputation of your practice and would incur better outcomes.