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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,ACO Growth and 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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