Jacques Sokolov, MD, Discusses the Impact of ACOs on Value-Based Products
Jacques Sokolov, MD, chairman and CEO, SSB Solutions Inc, says CIOs and ACOs are the foundation for many value-based products. Both organizations allow for revenue streams above and beyond the fee-for-service to be passed along to physicians and hospitals that would not otherwise be possible. For payers, Dr Sokolov says shared savings programs and bundled payment methods appear to hold the largest promise in relationship to achieving both a clinical excellence and economic rationality.
This video was taken on May 2, 2013, at the NAMCP Spring Managed Care Forum in Orlando, FL.
HHS Secretary Sylvia M. Burwell's announcement that CMS would move to value-based payments was a nail in the coffin for those skeptics who believed the push for value contracting would pass, according to Joseph Gifford, MD, chief executive of the Providence-Swedish Health Alliance.
The overhaul would fix the Medicare reimbursement system and align payment with CMS' current efforts to reward value-based care. For the first time, the wealthiest seniors would be asked to pay higher premiums.
As patents on some of the most lucrative medicines began to expire, many companies shifted money to rare-disease drugs, knowing that those medicines cost less to develop and will face limited competition.