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Americans are living longer, and the cost of healthcare is continuing to rise. In a 2012 article published in JAMA, founder of the Institute for Healthcare Improvement and former CMS Administrator Donald Berwick, MD, suggested one third of spending on U.S. healthcare is wasted.
Value-based care and population health are ways to address the rising costs and waste in healthcare. But new approaches to healthcare delivery require new methods of managing the healthcare revenue cycle. Shifting to value-based care is mission critical for many organizations. However, making this transition isn’t easy.
At Becker’s 5th Annual Health IT + Revenue Cycle Conference in Chicago, nThrive sponsored an executive roundtable to explore how population health programs are reducing the cost of hospital services. Carl Couch, MD, nThrive’s CMO and former vice president of innovation at Dallas-based Baylor Scott & White Health, shared insights about value-based care based on his years leading a large accountable care organization. Jennifer Nicholson, HP2 program manager at Northeast Georgia Health System in Gainesville, discussed how analytics and bundled payments have generated better patient outcomes and cost savings for the health system.