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Road to value-based care bumpy, but shows signs of progress
The road to value-based care may be paved with the best intentions, but there are several obstacles the healthcare industry needs to overcome if it's going to successfully transition from the fee-for-service model.
Value-based care challenges range from administrative to financial. The transition can get complicated when it comes to managing and making sense of all of the data that needs to be factored into value-based care initiatives. Healthcare organizations must also contend with measuring patient engagement and satisfaction as well as getting providers to adjust to new payment models.
Perhaps surprisingly, payers have emerged as key drivers behind the push toward value-based care and are moving to the new model faster than previously predicted. Research from the Health Care Transformation Task Force found that nearly half of its members' business was tied to value-based care by the end of 2017.
While having the backing from payers is a boon for adoption, there are still value-based care challenges, such as integrating into existing workflows and setting up cost controls for bundled payments. Providers in particular may be more risk-averse to new payment methods, but must learn to adapt as the rest of the industry makes the shift. This handbook's feature articles examine the roles healthcare insurers, providers and analytics are playing in advancing value-based care.