Is ‘value-based care’ ill-defined?

“Value-based care” (VBC) is one of the most frequently cited goals in U.S. healthcare reform — yet its meaning remains frustratingly vague and often contradictory. We hear that value-based care is the future. But as we navigate payment reforms, new quality programs, and evolving care models, we’re forced to ask: Whose definition of “value” are we using?

In long-term care, the consequences of this ambiguity are real. Skilled nursing facilities, assisted living communities, payers, hospitals and patients are all impacted by how “value” is interpreted and rewarded — or not.

No shared definition of ‘value’

Depending on your role in the healthcare ecosystem, the word “value” can mean very different things:

• To providers, value often means improving patient outcomes efficiently, while being paid fairly for the increasing complexity, labor shortages, and acuity of patients they serve.
• To payers, value is usually tied to reducing utilization and controlling the total cost of care, sometimes by limiting services or access points.
• To patients and families, value means compassionate, person-centered care and improved quality of life, regardless of billing codes or risk-sharing models.

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