Identifying and Addressing Doubts about the Future of Medicine
Since value-based payment models were introduced through CMS programs like MSSP and extended through commercial lines of business, nearly half (47.1%) of all physicians who responded to a 2018 study completed by The Physicians Foundation reported that some or all of their compensation was tied to value. This represents a year-over-year increase in the transition to value-based care, and as reported in a Change Healthcare 2018 Value-Based Care Study, average medical cost savings have grown to 5.6% due to value-based strategies. However, as value continues to grow, the perception of the healthcare system remains largely pessimistic among providers.
- Physicians have a negative perception of the future of medicine. Only 4% of the surveyed providers in the 2018 study would prefer to keep the current healthcare system, and 53% reported they would prefer a single-payer system. The current level of provider discontent has two main drivers; a lack of electronic health record (EHR) interoperability, and potentially compromised provider-patient relationship.
- Value continues to grow, but providers continue to show little confidence in its ability to impact cost or improve care. Only 18% of physicians believe value-based arrangements or programs will impact their bottom line or the quality of care.
- Social factors are driving a large percentage of health issues. 87.9% of physicians reportedly serve patient populations that deal with significant social issues that impact health and cost of care.
How can Innovista help?
Payors are reportedly pushing for over 75% adoption of value-based reimbursement models between 2018 and 2020, and the transition from fee-for-service (FFS) continues to be met with cynicism and doubt. Innovista exists to help providers succeed in value-based care by developing strong relationships, delivering innovative solutions and driving exceptional performance. By aligning with independent physicians within accountable care models, Innovista provides the expert staffing, clinical programs, delegated services, and analytics capabilities to drive effective change.
Innovista exists to help providers succeed in value-based care by developing strong relationships, delivering innovative solutions and driving exceptional performance. Strong dedication to improving patient outcomes drives Innovista to provide our physician partners with expert staffing, clinical programs, delegated services, and analytics capabilities optimized to drive effective change.
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