If you’re like most providers, you participate in at least one value-based payment model. And you’re participation in these models is likely to increase over the next few years.
So where exactly is all this going? While we don’t have a crystal ball, we do know that gaps and barriers affecting the scalability of ACOs, patient-centered medical homes and other value-based payment models have become an important part of that discussion.
Operational uncertainty plays a major role in the industry’s confidence regarding value-based payments – particularly among providers – but we wanted to find out more specifics on what is hindering further growth and adoption. To find out, Availity undertook a research study to learn more about current-state adoption, gauge current provider attitudes, and identify barriers and concerns, all from the provider perspective.
I encourage you to check out the complete research report, “Provider Attitudes Toward Value-Based Payments,” which is packed with insights on these topics. In the meantime, here are four key takeaways:
Provider engagement in value-based payments exceeds growth expectations, increasing the already high pressure on operations and staff. At least three-quarters of providers participate in one or more value-based payment models, in addition to traditional fee-for-service models. Yet only about one quarter agree that value-based payment models make it easy to understand, track and project revenue.
Attitudes toward value-based payment models are mixed, reflecting uncertainties and provider concerns. Just 30 percent of providers believe that value-based payments offer enough reward for the risk. Half agree that value-based payment models will positively affect health outcomes and cost.
Despite the uncertainties, and while value-based payments represent only a small percentage of current revenue, providers anticipate strong growth. Twenty percent of provider revenue currently comes from value-based models, but 60 percent believe value-based payments of some type will become the dominant model.
Sustainable growth requires a focus on—and resolution of— data concerns, staff acceptance issues and operational integration problems. More than 75 percent of physician practices and hospitals agree that real-time information sharing will be critical for success. More than 80 percent cite the need for additional staff and time to manage value-based models.
Because you need trusted, timely information to develop strategic plans that advance your business, Availity plans to continue to conduct and publish research on key issues. So be on the lookout for future research on this and other important topics.