Healthcare Finance News October 23, 2024
Risk-based contracts became a financial lifeline for a challenging payer mix in southern Oregon, says Chief Executive Chris Pizzi.
Value-based care has long been the goal, but becomes more than aspirational when the majority of patients are paying through Medicare and Medicaid.
Providence Health & Services in Medford, Oregon has a payer mix of 60% Medicare and 20% Medicaid, according to Chris Pizzi, chief executive of the Southern Oregon Service Area.
This means 80% of Providence Medford Medical Center’s reimbursement is based on fee-for-service Medicare, Medicare Advantage and Medicaid. All pay less than the more lucrative commercial-based health insurance.
This is when risk-based contracts become a financial lifeline, Pizzi said.
“The payers mix in southern Oregon is challenging,” Pizzi...
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