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- The goal of value-based care (VBC) is to promote better care for individual patients and improved health outcomes for communities at reduced costs. In 2023, VBC grew and evolved as healthcare providers, payers and policymakers sought to improve patient results while containing costs. Expect to see more of the same investments and trends in VBC in 2024.
- Holland & Knight attorneys have taken a closer look at the most meaningful VBC trends and developments anticipated for 2024, including payer and provider consolidation and the challenge of leveraging data and technology to manage patient health.
The goal of value-based care (VBC) is to promote better care for individual patients and improved health outcomes for communities at reduced costs. This is an important and admirable purpose as many VBC stakeholders attempt to tackle inherent challenges within the healthcare sector. In 2023, VBC grew and evolved as healthcare providers, payers and policymakers sought to improve patient results while containing costs. Expect to see more of the same investments and trends in VBC in 2024.
Last year, healthcare providers continued to move away from traditional fee-for-service (FFS) models in favor of alternative payment models – such as the use of bundled payments, capitation and shared losses and savings arrangements – in an attempt to deliver high-quality, cost-effective services by linking payments for those services to actual outcomes. The trajectory for growth of VBC in healthcare, however, is not a straight line. For all the industry chatter about the 2030 deadline established by the Centers for Medicare & Medicaid Services (CMS) to transition the vast majority of Medicare and Medicaid spending to accountable care, real progress toward meaningfully shifting existing care models has been slower than expected. Still, expect market forces, combined with the looming 2030 deadline, to spur real action and widespread adoption in this space as VBC expands to additional provider lines of business and sites of care.
Building upon considerable activity over the past year, the following are anticipated to be the most meaningful VBC trends and developments for 2024.