Value-based care is bending the healthcare cost curve, reducing unnecessary medical costs while improving care quality and patient engagement. Yet providers worry value-based reimbursement will negatively impact patient care. According to a recent survey by Change Healthcare, over 61% of doctors still fear value-based reimbursement will damage their practice.
While physicians may feel uncertain about the impact value-based care will have on their practices, industry experts are sure that the transition away from fee-for-service payments and care delivery is here to stay.
What does that mean to you and your practice and what can you do to be successful in this new trend?
Moving from fee-for-service is an immense paradigm shift. Recognizing that physicians are on the front lines of healthcare, making these changes requires new processes, culture and infrastructure. Keeping patients engaged and ensuring their experiences are positive in every interaction is critical to success in the transition to value-based care.
Benefits of value-based care for providers
• More personal time with health professionals and personalized care that is tailored to each person’s unique health situation
• Access to proactive health screenings and programs that are focused on preventing illness
• Improved care for chronic conditions with a focus on avoiding health complications
• Improved systems leveraging technology and data analytics, allowing physicians to coordinate care around the patient
To support value-based care, physicians need the following tools, skills and goals to get started and be successful:
1. Engage your patients – Encourage your patients to call your office when a symptom arises. More than ever, it is becoming crucial to have 24/7 access to a triage nurse to ensure that patients can connect with your office even when you are closed. That prevents patient leakage and ensures appropriate level of care. Your daytime office nurses should also be using the MyTriageChecklist to ensure that they are evaluating and documenting patient calls appropriately.
2. Consider partnerships with local businesses – Most companies over 500 employees are self-insured, meaning that they benefit when their employees save on health care expenses. As a result, companies are paying attention to value-based care. What does that mean to providers? As a provider and hospitals, companies are willing to partner with those who can provide their employees with health and wellness tips and give an easy access to a doctor when their employees are sick.
3. Engagement platforms: Some of our hospital clients are developing great wellness programs for their communities and local businesses. This is the new trend and we expect it to continue into the next decade. But with the service, it is important to have a mobile platform to engage the employees. Our newest platform: Continuwell is a great solution to add all of your resources, customize it to for each employer, and deliver it as part of your offering. This will increase loyalty and make it easy to demonstrate cost savings.
4. Mobile application for your practice: Patients are on their phones more than on their computers. As a doctor office, patients are looking for engagement from you on their phones and smart devices. Do you want to encourage patients to access their EMR portal? Talk to us about our upcoming my 24/7 healthcare mobile app, which will allow you to place your office information and message patients directly on a mobile app for your patients.