Value-based healthcare is a healthcare delivery model where
providers (hospitals and physicians), are paid based on patient health
outcomes (Catalyst, 2017). Under this model, providers are rewarded
for helping patients improve their health, reduce the effects and
incidence of chronic disease and live healthier lives in an evidence-
based way (Catalyst, 2017). There are many benefits to this model,
which includes: patients spending less money to achieve better
health, providers achieve efficiencies and great patient satisfaction
and payers control costs and reduce risk (Catalyst, 2017). I think that
the government should be in a central position to issue physician
practice guidelines based on cost efficiency.
Overtime, healthcare spending will continue to grow and individuals
will be responsible for paying more and more for their healthcare
needs. It is projected that by the year 2028 the national health
spending will reach $6.2 trillion and the insured share of the
population is expected to fall from 90.6% to 89.4% by 2028 (NHE
Fact Sheet, n.d). This will mean that more individuals will be paying
out of pocket for basic healthcare needs. Due to these changes, the
government should be able to provide more guidance to providers on
how to provide cost-efficient healthcare services.
Through having value-based care, it will help lower the cost of
healthcare for everyone that is involved. This would include the
providers, hospitals and the patients. With this reduction, it could
lead to lower insurance premiums so that healthcare will be more
accessible to all individuals. The only way that this will be able to
happen is if the government begins playing a bigger role in creating
guidelines for all healthcare facilities to follow.
References:
Catalyst, N. E. J. M. (2017, January 1). What is value-based
healthcare? NEJM Catalyst. Retrieved May 4, 2022,
from https://catalyst.nejm.org/doi/full/10.1056/CAT.17.0558
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Nhe fact sheet. CMS. (n.d.). Retrieved May 4, 2022,
from https://www.cms.gov/Research-Statistics-Data-and-Systems/S
tatistics-Trends-and-Reports/NationalHealthExpendData/NHE-Fact-
Sheet
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