As digitization marches forward, so does the change from fee-for-service to value-based healthcare. Much like the change in focus of most businesses, the changes in healthcare look to shift the focus from providing services for a fee to focusing on delivering the most value to the patient. But what exactly will that change look like and how will it impact our patients?
A Look into Value-Based Healthcare
- Putting the patient first. When people get into healthcare, it’s usually with the idea of helping people in need. But reporting requirements, insurance limitations, and even healthcare systems can get in the way of that. Value-based healthcare allows you to focus on the patient’s needs, wishes, concerns, and best options rather than simply on the treatments that are the most common.
- Outcomes over numbers. Fee-for-service care looks at the lowest cost for healthcare, which may not coincide with the best possible solution for a patient. By comparison, value-based care looks deeper than cost.
- Payments focus on the outcome, not the procedure. Instead of performing a knee replacement surgery, knowing there’s a good chance they’ll need another one down the road, you can instead focus on providing more comprehensive options that treat the root of the problem.
- Empowering patients. Instead of being told that they’ll have a particular surgery because of the insurance company’s decision, the patient will have a more active role in the process. They may have the choice of trying a less-effective but less-risky treatment route first before delving into one that may not benefit them in the long run. Overall, it gives them the power to choose their treatment.
- Value-based won’t exclude fee-for-service. Though this may sound counter-intuitive, the drive for providing quality healthcare will need to meld with the cost of providing that care. After all, if it did, it would drive up the cost of insurance significantly. Rather, it created a marriage between the two systems where cost is only one aspect of several for the overall treatment decision that is made.
Part of the push for electronic health records was driven by the push to improve patient outcomes, interoperability with other providers, and improvements in the value the patient gets from their providers. Unfortunately, many EHR systems are still falling short, meeting only the minimum requirements for their software while not delivering enough value to the providers at the same time. Exscribe’s suite of EHR solutions is different. Designed to provide real-world solutions and add value for both providers and patients, we can help you take your pracitce to another level. Please feel free to contact us today to request a demo and discover where we can take your practice together.