Value-based care is modernizing the healthcare landscape, especially in terms of Medicare. This approach shifts the focus from the quantity of services provided to the quality of outcomes achieved. Instead of just treating illnesses as they occur, value-based care aims to keep patients as healthy as possible. This is particularly crucial for seniors, who often face chronic conditions and frequent healthcare needs.
Below, we’ll briefly go over what this approach entails and the impact it’s having on patient outcomes.
These days, the risks of hospital readmissions and complications are high for elderly patients who must juggle multiple health issues and medications. Value-based care tackles these challenges head-on. By emphasizing coordinated care and better medication management, it reduces errors and negative interactions. This not only improves patient well-being but also helps ease Medicare’s financial burden by cutting unnecessary costs.
Primary care providers play a pivotal role in this new model but they face hurdles like workforce shortages and overwhelming paperwork. Value-based care offers a breath of fresh air, cutting down on administrative chores and shifting resources back to patient care. This makes primary care a more appealing and sustainable profession.
The benefits of this model are clear. For example, providing timely home healthcare after a hospital stay can significantly lower the risk of readmission — by up to 60% within the first 30 days. It also cuts down subsequent healthcare costs by 11%. Chronic conditions such as diabetes and hypertension are managed better, reducing the need for emergency interventions.
Technological integration is a key component in facilitating value-based care. Tools such as telehealth, data analytics, artificial intelligence and electronic health records enable providers to offer personalized, efficient care. These tools help monitor patients regularly without the need for travel, analyze health data for better predictions and keep patient records up-to-date and accessible across different care settings.
From an economic standpoint, value-based care is a game-changer. It reduces the need for costly hospital visits and procedures by focusing on prevention, thereby saving Medicare money. These savings also improve patient quality of life and increase independence, which lessens overall reliance on healthcare services.
The move to value-based care is more than a healthcare reform; it’s a call to action for everyone involved in healthcare — from providers to policymakers. As we embrace this forward-thinking model, we pave the way for a healthier future so that healthcare systems are not only sustainable, but they’re more responsive to the needs of all individuals as well.
Would you like to learn more? Check out the accompanying resource for more insight on the impact of value-based care on health outcomes, the technological integration involved and more.
Infographic provided by Aledade, a provider of Accountable Care Organization Solutions
SOURCES
- https://docushare-web.apps.external.pioneer.humana.com/Marketing/docushare-app?file=5413213
- https://www.cms.gov/priorities/innovation/key-concepts/value-based-care
- https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7185050/
- https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8343083/
- https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9517297/
- https://www.mdpi.com/1660-4601/20/19/6880
- https://resources.aledade.com/blogs/5-strategies-to-address-the-primary-care-workforce-shortage/
- https://www.cms.gov/medicare/quality/value-based-programs