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As healthcare sprints toward value and away from volume, many physicians participating in value-based care (VBC) models are in the middle of a precarious balancing act right now. Value-based contracts demand different business and clinical practices from fee-for-service arrangements based largely on volume of service. And because many physicians still rely primarily on fee-for-service arrangements for the bulk of their livelihoods, practices often can’t afford a complete pivot toward value-based care.
This position is often illustrated with the idea of these providers having one foot in two canoes – one in a fee-for-service boat and the other in a value-based care boat – that are drifting apart.
As providers look to find more stability as they pivot into VBC waters, they need to be conscious of the partnerships they forge on this journey. Done correctly, the right collaborative approach can have significant positive downstream impacts for all of a practice’s patients – even the ones not currently in a VBC plan.