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Over the past decade, the health care industry has shifted to value-based care, albeit on an incremental basis. These efforts deserve praise and are the result of intentional, hard work. Based on observations from the consulting team at FORVIS, we found that this shift is variable in maturity across key value-based areas. That is, organizations may be further along in patient engagement and care coordination than other areas like data analytics and provider alignment.
The cross-sectional nature of value-based care means that an organization’s transition to value, overall, is only as strong as its weakest link. We believe there is urgency to fully transition to value-based care to seize the financial sustainability opportunity that a value-based operating model presents. Those opportunities are at the reimbursement level (payer incentives) and in driving efficiency within the care delivery model (cost of care).
The benefits of value-based care are well documented and easy to appreciate from a patient perspective. What is less understood is that when value-based care is executed at a high-performing standard across an organization, value-based care models allow for increased levels of financial performance.