07/17/2024

How to Prepare for Value-based Care

Changes in Medicare, Medicaid will impact healthcare associations

Value-based care is an important issue for almost any association in the healthcare ecosystem. Yet there needs to be more clarity about what VBC means and what impact it will have. VBC is a stated objective of the Centers for Medicare & Medicaid Services, having set a goal of 100 percent of Medicare beneficiaries and most Medicaid beneficiaries in accountable care relationships by 2030. This dramatic evolution of the payment and operating models will impact many aspects of healthcare delivery. As healthcare association leaders, your role is crucial in increasing awareness of these changes and developing plans to prepare your membership.

Most define VBC as payment models incentivizing healthcare providers to be accountable for the quality and cost of care they provide for people with Medicare, Medicaid, or commercial payers. VBC not only encourages healthcare providers to work together to address a person’s physical, mental, behavioral and social needs but also offers a unique opportunity to improve the quality and efficiency of care.

Addressing health equity is also incorporated into VBC by encouraging healthcare providers to screen for social needs and work with individuals to develop personalized treatment plans. The payment models often include specific quality and cost-of-care measures and financial rewards or penalties based on performance.

Please select this link to read the complete article from ASAE’s Center for Association Leadership.