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The American healthcare system is shifting away from traditional fee-for-service (FFS) to a new payment model, one that ties provider reimbursement to patient results rather than the quantity of services provided. This model, value-based care, is gaining traction in the U.S. According to the Health Care Payment Learning & Action Network’s 2023 report on participation in alternative payment models, about 60% of healthcare payments made in the previous year included some form of quality or value component, an increase from 53% in 2017 and 11% in 2012.
This change to value-based care is transforming the healthcare system and will significantly impact the future of healthcare. Medical practices can expect many benefits from this transformation—but only after fully embracing the shift. That’s why it’s so important to understand and embrace the changes value-based care brings to healthcare.