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While I am a practicing clinician, I am a firm believer that improvements in healthcare most often come from borrowing the best ideas from other business models. For example, I have sometimes borrowed from software company and payer colleague insights to describe value-based care (VBC) reimbursement as a subscription model. This model would provide more consistent revenue and allow organizations to better weather challenging times like a pandemic. For providers, this would allow freedom from the behavior required to drive fee-for-service (FFS) revenue and empower an approach to patient engagement that best addresses their needs. This is especially true when it comes to investing in social determinants of health (SDOH), which tends to lag the adoption of VBC.
It is my belief that organizations seeking to accelerate VBC adoption can achieve better clinical outcomes and lower cost by investing in SDOH in a way similar to how hedge funds leverage their portfolios. Hedge funds dedicate most of their resources to their primary area of focus but make smaller, strategic investments in other areas that enhance their overall performance.