The COVID-19 pandemic has taught us it’s possible for the health care system to transform care delivery—and quickly. We saw vaccines come to market in record time, heightened cross-industry collaboration to track vaccine statuses, and virtual care use surge. Similarly, the pandemic demonstrated that value-based care delivery models, where payment is based on outcomes versus the number of services provided, are critical to improving patient outcomes and lowering costs.
However, there is still work ahead to increase adoption of value-based care across the health care continuum. To understand where value-based care is heading, it is crucial to understand the forces advancing value-based care delivery models:
States are forging ahead with focus on data standardization.
Despite the Biden Administration pushing back timelines for implementing key value-based reimbursement models, some states are moving ahead. California, New York, Oregon and Texas are advancing their own versions of “value-based payments 2.0” programs and resetting initiatives that are leading the way in delivery system reform. These state-based initiatives are designed to improve outcomes through a focus on standardizing data and investing in automated data reporting and exchange channels. For example, the Council for Affordable Quality Healthcare has been working to improve transaction processing so that it includes value-based care content that supports providers at the point of care.