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Blog Post

3 commitments your peers are making to advance VBC

By Jack ColleranClare Wirth

May 31, 2022

    We gathered a group of executives from across the industry to discuss what it would really take to adopt meaningful risk-based arrangements (again). Like last time, we asked: what’s one thing you’re going to commit to in advancing value-based care? We were struck by the renewed sense of agency amongst the group.

    Here are some of our favorite responses.

    Value-based care should be more than a buzzword by now

    I commit to open and candid conversations with my peers from across the industry.

    Plans and providers have a long history in every market. We need them to work together in new ways to accomplish value-based care. During the workshop, several leaders committed to resetting their communication with these partners to be more open and honest.

    “Not try to be everything to everyone-strategically partner.”

    Dr. Elizabeth Cruse, MD, MBA, Boulder Community Health

    “Why do these barriers exist? Have a frank conversation with colleagues and partners. Try to understand the environment.”

    Health Plan Leader

    “Think about what fears keep us from moving ahead.”

    Dr. Renee McLaughlin, MD, MBA, MSc, Cigna

    I commit to deepening my cross-industry partnerships.

    A successful shift toward value-based care requires cross-industry cooperation. Industry stakeholders need to rethink their mentality on competition; value necessitates teamwork from across the industry for everyone to succeed.

    “Continue to build on the collaboration with external parties that will position our network strategically for success in a risk-based environment.”

    Susan Cook, MPA, Integrated Health Partners

    “Continue to push forward on data aggregation/sharing across multiple sites of care to further inform/enhance a patient's journey to providers.”

    Mark Lamm, LifePoint Health

    I commit to shifting the culture of my organization toward value.

    Change management is an evergreen challenge in a move toward value-based arrangements. Several leaders from the session committed to moving the needle forward at all levels of their organization.

    “Double down on making ‘Value-Based Believers’ out of everyone in our organization and all related stakeholders.”

    Dr. Ashish Parikh, MD, Summit Medical Group

    “We have a lot in place or planned, including more resources and capabilities in population health care, but for me personally - I'm currently the skunk works of the organization, and I need to popularize VB reimbursement and what it means for all levels of the organization.”

    Dr. James Loeffelholz, MD, Bozeman Health

    “To change culture and education toward risk we need to teach this across the board. Population health needs to be incorporated into education. I will continue to incorporate the language into my courses I teach, etc.”

    Dr. Robert Fields, MD, MHA, Mount Sinai Health System

    Parting thoughts

    These commitments reflect a critical mindset shift the industry must make: a shift away from "hopium" rhetoric – “thinking things will work out” as Marcelo Zottolo, MS, from Lee Health defined it —and more toward incrementalism. In other words, we must stop setting ourselves up for failure on what is and isn't achievable in the first year of value-based care contracts. It’s time to start new conversations and celebrate incremental progress toward big, long-term ambitions. Only then will we actually move the industry forward.

    What’s one change you as a leader can make that moves the needle toward VBC?

    Value-based care should be more than a buzzword

    imageCommercial 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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