Positive Financial Results Thanks to Value-Based Care
Value-based care payment programs are on the rise, and many executives note positive returns on investments thanks to these programs. In fact, a recent Health Financial Management Association (HFMA) survey of 117 healthcare executives showed that nearly 75% cited positive financial outcomes as the result of some form of value-based care program. Healthcare Dive reported on the survey, saying that value-based care program adoption has doubled since 2015, now at 24% up from 12%. The survey also found that 26% of negotiated government plans, such as Medicaid and Medicare Advantage plans, are VBC programs as well.
However, while risk-based contracts are on the rise, the rate of increase failed to meet the expectations predicted in 2015. Today, many of these executives stated that their programs were not necessarily 100% value-based. Rather their programs are a mixture of bonus-only or combination of bonus and value-based payments. These mixtures mean taking on less risk and may indicate respondents’ apprehension to a new system of solely VBC programs.
With potential MACRA rule changes that could impact value-based programs on the horizon, along with uncertainty about switching to a new system, organizations may be hesitant to fully invest in value-based care programs, despite 74% of those surveyed reporting positive financial responses due to value-based programs. Healthcare Dive noted a few barriers that may contribute to the delay in VBC growth, such as a lack of resources and data support to physicians and payers. Yet, Healthcare Dive states that value-based care programs are expected to continue growing both amongst private payers and CMS.
Looking ahead, it seems that the only certainty is that new VBC payment models will continue to arise along with CMS proposing changes to its models. Does all this leave you wondering how to take on a value-based care program and to reap its financial benefits? If it does, we can help. At Boncura, it’s our business to know the ins and outs of VBC programs and to help your organization run efficiently under this new model. We’ll ensure you have the team and tools to successfully navigate the inevitable changes ahead. Get our five top tips to transitioning to value-based care programs today.
About Boncura Health Solutions
Since 2011, Boncura Health Solutions has remained a dynamic organization aimed at improving patient outcomes, efficiently managing at-risk populations to reduce unnecessary healthcare costs, delivering services in a cost-effective manner, and providing unique and convenient ways for patients, providers, and clients to access key support services. Founded by physicians, Boncura’s expertise allows hospitals and health systems, independent physician groups, and accountable care organizations to provide value-based care through efficient and intelligent administrative and clinical services. Today, Boncura serves more than 7,000 physician providers and partners, managing upwards of 450,000 lives, and processing more than eight million claims annually.
 Masterson, Lee. (2018, Feb 14). Most healthcare execs say value-based programs led to positive financial results, [Web brief]. Retrieved from https://www.healthcaredive.com/news/most-healthcare-execs-say-value-based-programs-led-to-positive-financial-re/517061/.