This time last year, many executives told us they were more likely to accelerate adoption of risk-based arrangements than ever before. The pandemic showed them the danger of relying purely on fee-for-service. But it has been hard to capitalize on that momentum—especially when the general feeling of inevitability around value-based care has largely diminished in recent years.
So, when we gathered a group of executives from across the ecosystem to discuss what it would really take to move the industry towards risk-based payment, we had to ask: What's one thing you're going to commit to in advancing value-based care?
Here are some of our favorite responses.
Radio Advisory episode: The right questions to ask about the future of value-based care
Existing silos hinder progress. Several leaders committed to greater communication and collaboration with stakeholders from across the industry. Working together is an essential element of creating change that is mutually beneficial.
"I plan to spend time reaching out to providers to understand what they need to be successful in value-based care programs [to] both save money and yield better outcomes for patients."
– Julie Andes, MBA, BCBS Michigan
"I will push for greater interoperability between provider systems in our market. We cannot succeed working in silos to manage the health of our community."
– Matt Edwards, MS, BCBS Kansas City
Language matters. Some of the terms we use around value-based care sound daunting (downside risk, capitation, etc.). Leaders committed to tweaking their language to refocus the conversation on the core goals of improving quality and reducing costs to make progress faster.
"I will stop using the term 'risk' when referring to clinicians owning full clinical and financial accountability for the patients they serve. Downside risk is a scary term and there are subtle connotations to how we position this."
– Sandeep Palakodeti, MD, University Hospitals
Many people hold on to a fee-for-service mindset. During our session, leaders committed to engaging with their colleagues in the shift toward value-based care and elevating accompanying priorities like strategy-aligned compensation and community health.
"[I will] make sure providers understand the need to shift culturally to value and find ways to ensure this does not add to their burnout."
– Rebecca Rohrbach, DNP, NOMS Healthcare
"I will become more vocal about how initiatives and programs will move us towards VBC. [For example,] I will constantly ask colleagues two questions: 'How does our client or partner intend this program, innovation, or initiative to move them forward to value and away from fee-for-service?' and, 'How may we support our partner's initiatives while promoting the advantages of rehabilitation services?'"
– Aaron Scharff, Kindred Healthcare Corporation
"[I will] elevate the importance of social determinants of health and health disparities related to the disease states our population health field team works on. [Additionally, I will] continue to highlight opportunities to close care gaps and decrease care variation."
– Christina Wild, JD, AbbVie Inc.
2022 is just around the bend. What are you going to commit to in advancing value-based care?
Commercial risk will either tip the industry towards value-based care or keep us in a world of hybrid incentives. It’s complicated, but is it possible? We think so. Learn how you can help push us towards a new cost and quality standard by visiting advisory.com/VBC.
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