Physicians, Hospitals Size Up Value-Based Healthcare

Physicians are wary of new healthcare payment models emphasizing quality and efficiency metrics, but hospitals are likely to prove resilient.

Many healthcare providers now participate in value-based payment models, which most see as the wave of the future, but few of them are happy about it.

"Value-based" is a catch-all label for Accountable Care Organizations (ACOs) and other ways of restructuring healthcare around payment for value delivered, as measured by metrics of healthcare quality or the aggregate health of a population rather than by the volume of visits, procedures, or hospital stays a healthcare organization records. In other words, it's a highly data-driven vision of healthcare reform, intended to improve quality and efficiency while reducing costs.

According to a survey sponsored by Availity, 75% of providers currently participate in at least one value-based payment model, and more than 60% expect this model to dominate the future of healthcare finance. Fewer than 30% believe these schemes offer a good level of reward for the risk (see detailed findings). Availity, which offers data and collaboration services to both payers and providers, is interested in these dynamics as a player promising to smooth the transition.

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Source: Information Week