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While value-based payment models seem great in theory, research shows that many primary care providers aren’t partaking in these models.
Over the last 14 years, the Centers for Medicare and Medicaid Services (CMS), as well as several states, have introduced value-based care models directed at primary care. The goal is to move away from the fee-for-service model — in which care is paid for by the volume of services — and instead tie payment to the quality of care provided and the ability to bring down costs.
Yet, only 46% of primary care physicians receive value-based payments, according to a 2022 survey. And smaller practices with less resources are even less likely to participate in value-based care.