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The healthcare industry is in the throes of unprecedented change as hospitals, providers, and payors all grapple with new methods of delivering (and billing) medical care. The uptick of value-based care, coupled with the growing prevalence of alternative therapies, makes understanding this new model a must. So, what exactly is value-based care? And why is nutrition therapy critical to its success?
Unlike the traditional fee-for-service reimbursement model, which rewards providers for the volumeof services rendered, value-based care promotes quality of service by focusing on positive (read: healthy) patient outcomes. In the volume-based model, providers are paid relative to the sheer number of services rendered: imaging, lab work, surgeries, and more. On the flip side, the value-based model focuses on reducing the number of interventions – instead paying providers for positive patient outcomes due to shared savings. The result? Higher quality care, better patient outcomes, better population outcomes, and cost savings across the board.