Moving from volume- to value-based payment methodologies can be challenging due to the cost of implementing them and to the variety of payment structures. The type of value-based program that works for one health care organization may not be the right fit for another. How do you as a health care executive determine the right structure for your organization? What do you need to take into consideration as you look at shifting from traditional payment methodologies to value-based care?
Review the resources for this week and reflect on the challenges health care executives might face when transitioning the payment methodology in a health care organization to a value-based model. Consider how the move to a value-based model might impact health care delivery for the health care organization.
EXPLAIN IN 2 OR 3 PARAGRAPHS HOW YOU, AS A CURRENT OR FUTURE HEALTH CARE EXECUTIVE, WOULD CHOOSE A VALUE-BASED METHODOLOGY FOR THE HEALTH CARE ORGANIZATION THAT YOU CURRENTLY WORK IN OR ONE WITH WHICH YOU ARE FAMILIAR. DESCRIBE THE ORGANIZATION’S CURRENT PAYMENT METHODOLOGY, AND EXPLAIN YOUR RATIONALE FOR CHOOSING TO MOVE TO YOUR CHOSEN MODEL. BE SPECIFIC AND PROVIDE EXAMPLES.
HOW MIGHT HEALTH CARE EXECUTIVES CHOOSE A VALUE-BASED CARE MODEL FOR THEIR ORGANIZATION? WHAT WOULD YOU, AS A CURRENT OR FUTURE HEALTH CARE EXECUTIVE, NEED TO CONSIDER IN MAKING THIS CHOICE? ARE THERE OTHER LEADERS WITHIN YOUR ORGANIZATION WHO YOU WOULD WANT TO INVOLVE IN MAKING THIS DECISION?
QUESTIONS SUCH AS THESE ARE CRITICAL FOR YOUR ROLE AS A CURRENT OR FUTURE HEALTH CARE EXECUTIVE. ENSURING THAT YOUR ORGANIZATION MAKES THE BEST CHOICE OF A VALUE-BASED CARE MODEL, WHILE INFORMING THE BOARD OF DIRECTORS AND OTHER DEPARTMENTS, IS A CRITICAL RESPONSIBILITY OF YOUR ROLE. PRACTICE IN DEVELOPING EXECUTIVE BRIEFS THAT MAY BE PRESENTED TO THE BOARD OF DIRECTORS FOR A HEALTH CARE ORGANIZATION IS MEANINGFUL IN HELPING GUIDE NECESSARY AND SUFFICIENT INFORMATION TO ENACT INITIATIVES FOR HEALTH CARE DELIVERY.
CONSIDER HOW YOU, AS A CURRENT OR FUTURE HEALTH CARE EXECUTIVE WOULD CHOOSE A VALUE-BASED CARE MODEL FOR YOUR HEALTH CARE ORGANIZATION. REFLECT ON THOSE KEY POINTS THAT YOU WOULD HIGHLIGHT AS MOST CRITICAL IN AN EXECUTIVE BRIEF FOR YOUR BOARD OF DIRECTORS.
THE ASSIGNMENT: (1–2 PAGES) WRITE AN EXECUTIVE BRIEF THAT YOU WOULD PRESENT TO THE BOARD OF DIRECTORS THAT HIGHLIGHTS YOUR CHOICE OF VALUE-BASED CARE MODEL. PROVIDE YOUR RATIONALE FOR CHOOSING THIS MODEL OVER OTHERS FOR YOUR ORGANIZATION. BE SURE TO INCORPORATE FEEDBACK AND RECOMMENDATIONS SUGGESTED BY YOUR COLLEAGUES IN THIS WEEK’S DISCUSSION.
Gehardt, W., Korenda, L., Morris M., & Vadnerkar, G. (2015). The road to value-based care: Your mileage may vary. Westlake, TX: Deloitte University Press.
Hundange, I. V., Riner, N., Aagard, M., & Riner, R. (2016). Adopting new cardiovascular models to achieve value-based care. Physician Leadership Journal, 3(2), 34–42.
Miller , H. D. (2009). From volume to value: Better ways to pay for health care. Health Affairs, 28(5), 1418–1428.
VanLare, J. M., & Conway, P. H. (2012). Value-based purchasing—national programs to move from volume to value. The New England Journal of Medicine, 367(4), 292–5.