Value-Based Care: The Future of Healthcare?
In 2017, the Commonwealth Fund conducted a report that compared the health care systems of eleven different high-income countries. In this report, it was found that the United States spent significantly more money and resources on healthcare, but somehow ranked at the bottom for performance as well as for access, equity and health care outcomes.
Healthcare is consistently listed as a top concern by Americans, and employers continue to search for ways to curb spending while also ensuring patients receive the resources and care they need. Value-Based Care (VBC) has been a popular proposition that promises to assist practices achieve better health outcomes at lower costs.
What is Value-Based Care?
Value-based healthcare is a healthcare delivery model where providers are paid based on patient health outcomes. Under this model, providers may be rewarded for helping patients improve their health, reduce the effects and incidence of chronic disease, and live healthier lives. Not only does this model seek to improve patient care, but it also helps practices cut costs
Currently, most individuals view the healthcare system as a place that helps individuals after they’re already sick. VBC seeks to change this by adopting a proactive, team-oriented and data-driven approach to keeping individuals healthy, improving the health care experience.
Aetna Memorial Hermann Accountable Care Network provides an example of how James, a 47 year old with chronic kidney disease, would benefit from a value-based care system
“James visited the hospital with shortness of breath and swelling in both legs, indications that the symptoms of his disease were not controlled...Research indicates that multidisciplinary care programs can be an effective way to slow the progression of kidney disease, reducing the need for dialysis and other costly interventions while extending life expectancy. On a value-based care system a nurse care manager would work closely with James to educate him about kidney disease and specific ways to improve his health. A dietician would help James start a kidney-friendly diet. A social worker would then help James apply for disability to relieve some of his financial worries. With his symptoms under control, the care team works with James to get him on the kidney transplant waiting list. James’ team is with him through every step of his transplant. He returns to work and feels confident that he can manage his health.”
How data plays its part in Value-Based Care
VBC is a powerful solution to a better healthcare system, but it relies on teams having access to accurate and real-time data. Integration of data from various sources gives practices the ability to receive, analyze and share health care data as well as connect patients and their health care teams with actionable clinical information. With the correct tools, care team members can have rapid access to data that provides them with the best opportunities to deliver the right treatments at the right time.
Understandable and meaningful data also allows practices to analyze true costs of certain services. By combining electronic medical records, payroll systems, HR systems, and physicians control systems, health care teams can better identify trends in costs vs. results to increase efficiency, productivity and overall care.
When these many data sources are integrated into accessible and understandable formats, health care workers have the power to implement value-based care options for their patients and provide a better healthcare experience for all involved.
Pinnacle Health Informatics has specialized in integrating behavioral health data for more than two decades and can assist you in building the data structures required to implement a VBC system. We will integrate your data sources into fast and easy access data complete with trends, period-over-period analysis, Key Performance Indicators (KPIs), Scorecards, Strategy Maps, Drill-through reports and ad-hoc query tools. Data comes alive and becomes a valuable, actionable asset to your organization, with a near instant return on investment. Pinnacle is the key to unlocking value-based care in your organization, reach out to us today and find out the many ways accessible data can transform your business.