McKinsey June 30, 2020
Healthcare stakeholders are seeking ways to reward quality and value. As providers continue to manage COVID-19, value-based payment programs may provide support.
COVID-19 has created an exogenous shock to the healthcare system, including a major disturbance of traditional utilization patterns and provider finances. Payers, providers, and state and federal governments had been embarking on a journey to transform the US healthcare payment system from one that rewards volume to one that rewards quality and value. Under value-based payment (VBP) programs, payers reward providers for reducing healthcare costs while maintaining or improving quality. Through a COVID-19 lens, VBP programs can support providers in times of uncertainty, such as by providing capitated incomes.
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