The value-based payment train is leaving the station, and it’s crucial for health system leaders to get on board quickly and safely. However, before boarding, they should know this transition from legacy models requires careful planning, new technologies and a fundamental re-thinking of the status quo.
This journey to alternate health care payment and delivery models has sparked new information technology needs for hospitals and providers that go far beyond behemoth electronic health records (EHRs). Meeting these new systems needs is key to accurately identifying key populations, creating strategic care plans, facilitating care coordination and providing patients-turned-consumers with mobility and price transparency. Without embracing new systems, payment pressures will continue to intensify and coordinating care across providers and health systems will become a missed opportunity for many organizations.
Moving from fee-for-service to fee-for-value – which requires meaningful connections with trading partners and health care consumers – can be a tricky passage to navigate; however, there are steps health system leaders can take to ensure a safe arrival. My colleague Bill Reid recently outlined four in detail in a Healthcare Financial Management Association article. Check out the full piece, “Minding the Gap: Getting on Board with Collaboration-Driven Revenue Models” and learn how to adopt and adapt to new revenue models.