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What Value-Based Care Means For The Healthcare Industry

2 Mins read

Value-based care is the top buzzword currently floating around the healthcare industry. And for good reason. Most healthcare facilities are planning a shift to value-based care or are already fully emerged in the shift. But the change can spur a slew of problems if managed improperly. Here are some factors to consider regarding the change to value-based care and what this shift means for your facility.

What Value-Based Care Means For The Healthcare Industry

Planning for the Change

You can’t make the shift to value-based care without first properly planning for it. Properly managed change is essential when it comes to a change in your facility’s care model. Planning for the shift will include re-training staff, updating your flow of internal communications, rolling out the change to patients and more. Consider which areas of the facility this shift will impact and determine how you can roll out the change with the least amount of complications.

Building an Infrastructure

According to Why Your Hospital isn’t Prepared for Value-Based Care, one of the essential elements of switching to a value-based care model is evolving your facility’s IT infrastructure. A value-based reporting model is drastically different from older reporting models and, as such can require various forms of software, new filing processes and more. As you work towards the shift, be sure that your IT infrastructure is updated as needed to keep pace with the changes.

Hiring Medical Staff

Having the right medical team in place can majorly ease the shift to value-based care. If you’re currently filling open positions, find new hires with ideas and practices that match the facility’s new care model. Get your current staff on board with the shift by training them on what the change will involve and by showing them how they can help make the shift a success. Accurate and timely internal communication is essential when evolving your model of care.

Valuing Quality not Quantity

Medical staff members who, for most of their careers, have worked in environments that valued quantity over quality may have the most difficulty with this change in your facility’s care model. Again, open, accurate and timely internal communications can help get them on board. A reframing of what’s most important at the facility is also essential. By encouraging staff to put quality over quantity, you can also get more of the team on board with the changes promptly.

Knowing the Penalties

What happens if your facility doesn’t effectively make the change to value-based care? Your organization may face a range of penalties for not living up to the new standards. For example, hospitals with high readmission rates are currently being penalized, which ultimately affects reimbursement rates. Avoid the penalties by learning more about them and by determining how your facility can adequately meet the new standards in care.

The shift to an emphasis on value-based care can be great for both physicians and patients. But, if not managed properly, the change may cause many problems. Manage the change by properly planning for it, by hiring the right staff and more.

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