Managing cost, quality, and risk

Posted on 08-24-2021
by: David B. Snow, Jr.Cedar Gate Technologies

The recent global health crisis further illuminated the need for a long-overdue shift in healthcare delivery models in the U.S., with value-based care becoming increasingly recognized by private industry and the U.S. government as a future necessity. There is a tremendous need for a broad spectrum of tools to drive lower costs and deliver better patient outcomes. This approach is an essential change to the fee-for-service arrangements we have historically observed in the U.S. healthcare system. Fee-for-service arrangements layer costs on top of costs, driving significant inefficiency, thus rendering healthcare unnecessarily expensive.    In addition, misdirected incentives may often negatively impact the quality of care. Ironically, in a fee-for-service environment, the level of waste often results in fewer resources to focus on patient quality of care. The vision of value-based care is to reduce costs and improve patient care while also driving value to employers, essentially helping them manage cost, quality, and risk. The evolution is slowly becoming a revolution, with outdated solutions being replaced by new and more innovative platforms buttressed by deep and sophisticated healthcare performance intelligence. A recent study shows more than six in 10 employers are either using or actively considering the utilization of value-based care models. These models are most effective when partnered with Centers of Excellence (COE) programs. COE’s are d…

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