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Value-based care (VBC) has become a key component in our efforts to improve healthcare and reduce costs. Yet, various stakeholders regard VBC differently: If I asked 10 people to define VBC for me, I’m sure I’d get 10 different responses. The absence of agreed-upon VBC goals by all contributes to the “what’s in it for me” or “what will it cost my organization” mindset where the focus is on who’s going to pay for care and who’s going to get paid and how much.
Stakeholders Define VBC Only From Their Point Of View
Most stakeholders view VBC only from their individual frame of reference. When payers talk about VBC, they are primarily concerned with reducing redundancy in services and ensuring that patients receive only the care they need, thus lowering costs. This reduction approach can make providers feel that they are forced to omit part of the care their patients need. Providers are being asked to trust that other work was done, and done correctly, outside of their purview.