Value-based care is a healthcare model where providers place a special emphasis on the health outcomes of their patients. In this brief guide, we will review what you should know – as a physical therapist – about this type of care.
As physical therapists, we have an enduring passion in ensuring that our patients are in optimal health. We strive to reduce the detrimental effects that stem from chronic diseases in many of our patients, and help other patients prevent the onset of chronic medical conditions.
We are passionate about our patients living healthier and happier lives.
Value-based care allows us to do all of this, and more! Additionally, the payment model associated with value-based care rewards us for helping patients become the best that they can be, physically.
Top 5 Things You Need to Know
- In previous years, providers charged a fee-for-service. Value-based care shifts this so that payments are provided based on the overall outcomes associated with the patient. The quality of the care that you provide to your patients and the costs associated with that specific care are determined, not the volume of services provided. In many instances, value-based care is also called “alternative payment models”.
- Collaboration is a critical component of value-based care. It recognizes the need for all members of the patient’s health team to work together so that the patient receives the care that they need. The care that is tailored to their specific health issues.
- While electronic health records are important, physical therapists involved in providing value-based care should utilize the Outcomes Registry designated to them. This allows outcomes to be quantified based on what patients report. In order to achieve the highest level of success, data must be collected and reported in all cases.
- All payers have a desire to transition to value-based care. When this type of care was first outlined, many believed it was only for patients that utilize Medicare, but that is not the case. There IS one value-based care model that uses this. It is referred to as the “Comprehensive Care for Joint Replacement” or “CJR”; however, there is now many models utilized for patients that are not utilizing Medicare.
- If you decide to get involved with value-based care, it is essential that you contract with a convener. This will allow you – as a physical therapist – to determine the overall risk that your practice could take and compare that to the monetary-based financial rewards that could be achieved by your practice.
There are many benefits associated with value-based care. These include the fact that patients will not have to spend as much money to achieve optimal health, the patients that you care for will be more satisfied with the level of care that you provide, and your practice will be rewarded for doing that which you desire to do, which is making society – as a whole – more successful.