Understanding Value-Based Payment: A Primer for Family Physicians
Supplement sponsor: American Academy of Family Physicians.
Fam Pract Manag. 2020 Jul-Aug;27(4):25-28.
The health care landscape evolves at a rapid pace. One trend among payers that impacts family physicians and other health care providers is value-based payment. Public and private payers are transitioning away from fee-for-service (FFS) and emphasizing value-based payment models.
Delivering High-quality, Value-based Care
This is a critical time in health care for family physicians to emphasize that primary care is value-based care through comprehensive, longitudinal, high-quality care that reduces cost and improves outcomes. For solo, independent physicians, changes in revenue from these new models will have a direct impact on your practice’s bottom line. For employed physicians, employers will begin to place a greater emphasis on performance on quality and utilization of care in determining compensation.
Value-based Payment Concepts
The overarching goals of transitioning from volume to value-based payment models are shared financial risk and holding physicians and other health care providers accountable for the quality and cost of health care. The key concepts of value-based payment (i.e., shared risk, population-based payments, bundled payments) align with providing value to patients through incentivizing outcomes. However, these payments alone are not sufficient to achieve a value-based care system.
Copyright © 2020 by the American Academy of Family Physicians.
This content is owned by the AAFP. A person viewing it online may make one printout of the material and may use that printout only for his or her personal, non-commercial reference. This material may not otherwise be downloaded, copied, printed, stored, transmitted or reproduced in any medium, whether now known or later invented, except as authorized in writing by the AAFP. Contact email@example.com for copyright questions and/or permission requests.
Want to use this article elsewhere? Get Permissions
More in FPM