Dr. Jacque Sokolov, MD, Chairman & CEO, SSB Solutions, Inc, says that value-based products and the revenue flow associated with them is evolving on the commercial side as well as the Medicare and Medicaid sides. The revenue sharing programs are contrasted with fee-for-service contracts. Dr. Sokolov also says that value-based reimbursement can have more than 5 revenue streams including quality metrics, shared savings, patient care management fees, and other areas where physicians and hospitals can recieve additional revenues for performance in value-based areas.
This video was taken on November 8 at the NAMCP Fall Forum in Las Vegas, NV.
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.