What You Should Know:
– While the shift towards value-based care (VBC) is underway, a recent Black Book survey reveals that only 37% of medical practices are currently receiving payments from upside-risk arrangements and shared savings, while 12% receive payments from full risk.
– This leaves a significant portion, over 50%, still relying on traditional Fee-For-Service models.
Healthcare Providers Seek Guidance in VBC Transition
The survey also highlights the increasing demand for VBC consulting services. Two-thirds of providers venturing into VBC rely on advisors to navigate the complexities of:
Care delivery challenges: Optimizing workflows and implementing evidence-based practices.
Data analytics: Utilizing data to drive informed decision-making.
Stakeholder collaboration: Fostering partnerships among providers, payers, and patients.
Key Areas of Focus in VBC Consulting
The survey identified eight key areas where VBC consulting firms assist healthcare organizations:
Strategy Development: Creating a roadmap for transitioning to VBC and achieving desired outcomes.
Data Analytics: Implementing solutions to collect, analyze, and utilize data for informed decision-making.
Performance Improvement: Identifying areas for improvement in care delivery and patient outcomes.
Population Health Management: Developing programs to address the specific needs of patient groups.
Provider & Payer Collaboration: Facilitating partnerships and aligning goals between providers and payers.
Technology Integration: Selecting and implementing technology solutions to support VBC initiatives.
Regulatory Compliance: Ensuring adherence to relevant regulations and standards.
Financial Modeling: Projecting the financial implications of the transition to VBC.
Survey Findings and Recommendations
The survey also emphasizes the need for:
– Faster Pace of VBC Adoption: 81% of respondents believe predictable compensation is crucial to accelerate VBC adoption.
– Enhanced Provider Confidence: Building trust and ensuring financial stability for providers transitioning to VBC.
Top VBC Consulting Firms
The survey identified top-performing VBC consulting firms for both physician practices and hospital systems:
– Physician Practices & Ambulatory Organizations: CareAllies, a division of The Cigna Group
– Hospitals & Health Systems: SG2, a Vizient company