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As healthcare organizations wrestle with the enormity and complexity of new risk-based payment arrangements with multiple payers, they also seek to adopt new approaches to value-based care. A typical goal is to improve the quality, consistency and cost of patient care, as well as patient experience.
Achieving systemic improvements in value-based care can be arduous, given the inherent challenges of updating or changing legacy systems, processes and cultures.
In this article, we show how it is possible to maximize and systematize your risk arrangement opportunities by pursuing a two-stage, value-based care initiative. The key is having a team approach toward governance, shared vision, accountability, flexibility and execution.
Stage 1: Establish Your Strategy
The first stage of upgrading your risk arrangements is establishing a firm strategic foundation, to ensure project efficiency, accountability and collaboration. Start with the following five strategic steps:
Stage 2: Champion Rigorous Execution
An initiative as ambitious as shifting from a fee-for-service to value-based system requires project activities to be carefully managed, coordinated and communicated. Consider focusing on the following five key tactics:
Conclusion
Due to the complexity and enterprise-wide impact of value-based payment arrangements, maintaining strong executive commitment for these arrangements requires a well-coordinated, systemic approach to program management. Once risk arrangements are in place, they require diligent, ongoing performance monitoring and operational adjustments, as needed. These arrangements also require responsive staff and technology implementation to support all required reporting, analytics and operational processes.
By applying a team-based approach toward implementing value-based risk arrangements, employees within your health system can work together more effectively to meet both the ongoing care needs of your patients as well as your organization’s best interests.
Link to Original Article (may require registration) https://www.healthcarebusinesstoday.com/shifting-from-fee-for-service/
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