Transitioning to Value-Based Reimbursement
The shift from fee-for-service healthcare to a value-based healthcare model has been associated with some challenges, notes Patrick White.
Mr White explains that the main challenge for healthcare groups is in the initial move. He notes that physicians and professionals who had previously been reimbursed under the fee-for-service model have financial concerns related to the switch to value-based reimbursement.
Mr White adds that another challenge is convincing the C-suite to incorporate physicians into the hospital management team. He notes that if presented with the responsibility and authority to make changes, physicians can help improve the overall delivery of care.
Despite these challenges, Mr White explains that the transition to a value-based healthcare model is necessary, and says that certain insurance companies have already begun measuring quality and cost per capita.