Many states have adapted to value-based care as it is designed to
improve quality and reduce costs which has changed the way
providers practice medicine and how they are compensated for their
services. The federal government has had a major role in the
nationwide impact of these changes. Per a report published in 2019
by Change Healthcare, 48 states have transitioned to this type of
reimbursement program (PCC 2019).
Medicare and Medicaid, which are government run programs, are
currently involved in value-based programs that reward health care
providers with incentive payments for the quality of care they
provide rather than the volume of services they provide. The
program is implemented to help make sure people received better
care at a lower cost and payment to providers is based more on the
results from care (CMS 2022). I think this is a fantastic benefit for
people with Medicare, as it helps ensure they are receiving quality
care.
“Value-based care improves price transparency by focusing on the
total cost of care and not the number of tests and procedures. Price
transparency data is still hard to come by at the patient level but it
shouldn’t be. Knowing the price of medical care empowers patients
to budget and demonstrates the importance of preventive care,
which can mitigate problems early, often with reduced effect on the
patient and a lower cost overall” (LMI 2021). I think as long as
healthcare facilities are receiving the adequate funds to stay afloat
and healthcare providers are being reimbursed accordingly, then this
type of model is great and will work long term as it helps ensure
patients are not overpaying and receiving quality care and physicians
are not getting underpaid or overpaid for their services.
References
CMS. (2022). What are the value-based programs? Retrieved
from https://www.cms.gov/Medicare/Quality-Initiatives-Patient-
Assessment-Instruments/Value-Based-Programs/Value-Based-
Programs
PCC. (2019). Value-Based Care in America: State-by-State. Retrieved
from https://www.pcpcc.org/resource/value-based-care-america-
state-state
LMI. (2021). What Is Value-Based Care? The Future of
Healthcare. Retrieved from https://www.lmi.org/blog/health/what-
value-based-care-future-healthcare
