Managed Healthcare Executive November 23, 2021
The shift to value-based care (VBC) in the U.S. has been slow in coming, in large part because providers have continued to cling to the traditional “fee for service” (FFS) healthcare model that historically has worked well for them (if not always for the patient). Plus, it’s how they’ve always done business.
But the inefficiencies and inflexibility of FFS were laid bare during the COVID-19 pandemic. Providers suddenly were confronted with the jarring reality that, under a fee-for-service reimbursement model, no service means no fee. Revenues plunged as patients canceled elective surgeries and clinician offices restricted hours and patient volume.
In contrast, value-based care models reimburse providers for delivering better outcomes for patients and populations while reducing costs. The emphasis...
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