The switch to value-based payments can mean a large shift in how providers are reimbursed.
HANYS Solutions’ Practice Advancement Strategies helps providers, practices and healthcare systems position themselves for success in an ever-changing healthcare market. Our custom toolkits provide clients the policies, procedures, workflows and mechanisms to maximize their practice’s revenue.
Under value-based care agreements, you are rewarded for helping patients improve their health, reduce the effects and incidence of chronic disease and live healthier lives.
Value-based care differs from a fee-for-service approach in which providers are paid based on the amount of healthcare services they deliver. The “value” in value-based healthcare is derived by measuring health outcomes against the cost of delivering the outcomes.
An example of a value-based care initiative is the Medicare Access and CHIP Reauthorization Act. MACRA replaced the previous Medicare reimbursement schedule with a pay-for-performance program that’s focused on quality, value and accountability.
VBP models impact physician reimbursement. Without proper preparation and implementation, practices may face significant reimbursement penalties.
Government and commercial payer policies have been shifting toward rewarding the value of care provided over volume. This shift is important for improving patient outcomes and utilizing healthcare resources wisely.
Our collaborative approach begins with an assessment of the current state of the practice, which includes:
We then work with you to customize an approach that will achieve success under value-based reimbursement models.