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Implementing value-based care to drive success for life sciences companies

Implementing value-based care to drive success for life sciences companies

January 31, 2022Healthcare DiveHealthcare DiveRisk Management & Stratification,VBC Development, Growth & Expansion

In an attempt to curb rising costs, the U.S. medical system is moving away from traditional fee-for-service healthcare. Traditional fee-for-service and volume-based healthcare models pay providers for the amount of healthcare services they provide, not the quality of that care. Value-based care is the new model: a system in which providers are paid for performance and patient outcomes.

Value-based care benefits every healthcare stakeholder:

  • Patients benefit from improved outcomes at lower costs
  • Providers benefit from better care efficiencies and, therefore, higher rates of patient satisfaction
  • Payers benefit from stronger cost controls, plus risk is spread across a larger patient population
  • Suppliers benefit from prices aligned with patient outcomes
  • Society benefits from a reduction in overall healthcare spending plus improved overall health

These benefits have led to increased focus on value-based solutions in life sciences.

Full Article

: Life Sciences, Risk, value-based care, vbc

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