The Road to Value-based Care is Inevitable but Bumpy: The Realities that Must be Addressed

Keckley Report March 2, 2020
Paul Keckley

The U.S. health delivery system is destined to replace its flawed volume-based incentives with value-based purchasing, but the process is proving difficult. That’s the consensus view from Chief Strategy Officers of major health systems convened by Lumeris over the weekend in Montana.

This comes as no surprise to industry stakeholders: major changes in our system often produce only incremental changes or take longer-than-expected to implement. But the shift from volume to value will likely prove to be our toughest challenge. The realities are these:

1-There is no universally accepted definition for “value” in the U.S. system nor methodology for its measurement.
Economists define value as “a fair exchange in return for a thing”. In essence, it is the relationship between...

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