New Market Survey Findings Reveal Opportunities and Barriers to Adopting Value-based Payment Models
ALBANY, N.Y., March 10, 2020 /PRNewswire/ -- The value-based care movement has expanded in recent years and the adoption of value-based payment models has shown signs of accelerating. However, organizations still face critical challenges when entering VBP arrangements. Hurdles include balancing fee-for-service and fee-for-value mindsets, the amount of investment necessary to effectively participate and the ability to ensure adequate volume to protect against risk.
DataGen, a leading healthcare data analytics and policy firm, has released new market survey findings that explore how healthcare organizations are planning for and navigating these challenges. Based on a survey of 102 healthcare executives,* the data reveal insight into how these leaders view the current state and future of VBC.
Access the full market report here and for a deep dive into the data, join DataGen for an interactive webinar on Thursday, March 19, at 1 p.m. eastern for a discussion and analysis of the findings. Expert panelists from across the industry will examine the current state of VBC and what lies ahead. Registration is now open.
Key findings include:
A quarter of organizations' revenue is tied to VBP; ACOs are the most popular VBP model
Healthcre leaders are optimistic about the future of VBP
Quality is improving – but if financials don't keep up, sustainability will be a challenge
The biggest hurdle is the bottom line
Investment in analytics, technology, and care coordination
"VBC models have been gaining ground over the past five years, despite how deeply the fee-for-service mindset and model are entrenched," said Mike Ilnicki, DataGen's president. "Not surprisingly, our respondents cited better incentives and mandatory participation as the top factors that would help drive higher participation and investment in VBP models. Healthcare organizations are feeling pinched financially as margins continue to shrink. Expanding and entering into VBP models will require significant data analysis, planning, and a keen understanding of VBP opportunities as healthcare organizations look to succeed in the future."
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