“Value-based” is a term used for everything from communication styles to contracts. The latter is the one we are interested in and the concept is easy enough to grasp — pay for quality and efficiency, not just quantity of services rendered. It can apply to any business agreement and any stakeholders.
But implementation is a whole other ballgame: how do you define, measure, report and reimburse based on quality? How much is patient satisfaction worth, for instance, as compared to quantifiable health outcomes? Is the value of an exchange uniquely in the eye of every beholder, or can beholders (stakeholders, let’s say) come to consensus on it after all?
Before being blindsided by this industry trend, get to know the key aspects of the volume-to-value spectrum that will impact your business with the Brooks Group Primer: Value-Based Reimbursements.
From this intensive resource you will learn to:
- Understand what value-based reimbursement is
- Identify key quality initiatives that impact it
- Gain insight into how public payers are pushing toward value-based arrangements
- Describe how commercial payers are taking part in value-based reimbursements
- Understand how pharmaceutical companies are engaging in risk-based contracting and value-based initiatives
With the largest payer in the country, CMS, tying larger proportions of its payments to value every year, all stakeholders recognize this model is key to generating future revenues. From familiarizing yourself with the various models to exploring the quality initiatives that payments are often tied to, this course will give you the tools to recognize and speak about value-based reimbursements today and in the future. Contact us to learn more.