Ease providers' value-based concerns
When it comes to value-based payment, providers aren't sure if they like the new reimbursement model. They're primarily concerned about coordination of care, data accuracy and staff acceptance of the changes. If insurers want value-based payment models to succeed, they must work to address these concerns.
A new study from health information network Availity found 75 percent of providers participate in at least one value-based payment model, but less than 30 percent say the reward justifies the risk taken.
"The healthcare revenue cycle is incredibly complicated and it's undergoing a transformation," Availity CEO Russ Thomas said Tuesday in a statement accompanying the study. "Unless we equip providers--and health plans--with the right tools and access to the information they need, we risk further complicating an already complex and fragmented system."
Chief among provider concerns is the need for additional employees to help manage the models. More than 80 percent of the more than 500 providers surveyed said that was major a challenge.
To help grow the value-based models, payers should focus on easing data concerns, staff issues and operational integration problems. For example, more than 75 percent of physician practices and 88 percent of facilities said real-time information sharing and access will help avoid expensive, manual processes.
"Understanding and addressing the current challenges with value-based payment models is critical for these products to grow and have a positive effect on health outcomes and cost of care," the study authors wrote.
Value-based models also can help enhance patient-centered medical homes by improving quality of care and reducing costs, FierceHealthPayer previously reported.
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