Serving the Value-Based Care Community | |
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Welcome to this week's issue of VBC Newsstand brought to you by VBCExhibitHall.com
and spotlighting our Platinum-level exhibitor Lumeris!
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Holland & Knight | March 4, 2024
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The goal of value-based care (VBC) is to promote better care for individual patients and improved health outcomes for communities at reduced costs. In 2023, VBC grew and evolved as healthcare providers, payers and policymakers sought to improve patient results while containing costs. Expect to see more of the same investments and trends in VBC in 2024. Holland & Knight attorneys have taken a closer look at the most meaningful VBC trends and developments anticipated for 2024, including payer and provider consolidation and the challenge of leveraging data and technology to manage patient health. | | |
In the supermarket, we look for fish that’s sustainably raised. We’re swayed by sustainable practices from hotels and retailers. So why wouldn’t the same standard apply to the most important service industry in the world, healthcare? The fact is that the traditional fee-for-service model, charging patients and plans for every blood draw, X-ray, and surgery, is an unsustainable norm that has pushed hospitals and patients toward bankruptcy. The volume approach brought many of America’s largest health systems to financial loss in 2022, while news stories report on hundreds of rural hospitals closing in recent years, with nearly 30% of those still open at risk. This is exacerbated by burnout among overwhelmed physicians, nurses and other personnel. | |  |
Since the implementation of the Affordable Care Act, a major shift has been underway in how individuals in traditional Medicare receive their services. The Centers for Medicare and Medicaid Services (CMS) has been systematically developing programs that focus on providing value-based care (VBC) to these enrollees. These programs include the Medicare Shared Savings Program (MSSP); the Bundled Payment Initiative for Care; ACO Realizing Equity, Access, and Community Health; Making Care Primary; and more. As of January 2023, 13.2 million of the 34.3 million (approximately 38 percent) traditional Medicare beneficiaries were in one of these programs. CMS has a stated goal of having 100 percent of traditional Medicare beneficiaries in these programs by 2030. | | |
Controlling costs is a key Value-Based Care goal, a fact well-known to ACOs that share savings with CMS. Even as individual ACOs have generated tens of millions of dollars in savings, however, MSSP ACOs as a whole have only been able to reduce their Total Cost of Care (TCOC) by a fraction. That is a program vulnerability and one reason why value-based payments are increasingly incorporating population-based payment. Plainly stated, claims data (especially 2-5 months old) isn’t a great tool for identifying patient risks, Medicare HCCs notwithstanding. The timeline for cost prevention is before events occur, not when you’re looking in the rearview mirror. | | |
In order to be successful moving forward, home-based care providers will need to understand the value-based care landscape and be prepared to operate in this space. That’s one key takeaway from a new report released by Transcend Strategy Group, an at-home care-focused growth strategy firm. The report is an overview of value-based care’s history, as well as a guide to help providers operate in a larger value-based ecosystem. In general, home-based care providers are staring down the barrel of a health care landscape that is increasingly embracing value-based care. Specifically, the Centers for Medicare & Medicaid Services (CMS) has been vocal about its goal of having 100% of all Medicare beneficiaries in a value-based program by 2030. | | |
Upcoming Sponsored Webinars | |
VBCExhibitHall offers FREE educational webinars for those who are working in value-based care (VBC), or would like to learn more about VBC! We encourage people to attend the live webinars so as to have the opportunity to participate in the Q&A. However, if you are unable to attend, a link to the recorded webinar is sent to all who sign up. Please register using an accurate email address so that you can receive the link to join and to the recording. | | |
Value-based Care is a Team Sport: How Providers Can Operationalize Risk Adjustment Initiatives | March 21, 2024 | 2 PM EST | How providers can develop a robust data strategy by harnessing a variety of data sources, including from payers, to optimize resource allocation for improved patient care | | |
How to Use Data (Science) & Automation Behind the Art of Physician Referrals |
How healthcare providers and organizations can utilize data science to improve the referral process | | | |
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An HCC V28
State of the Union:
The Key to Excelling at VBC in 2024
| Top takeaways from the first month of the V28 phase-in period and practical changes that can be implemented to help organizations make smoother transitions | | |
Check out our Webinar Archive to view past webinars on a variety of value-based care related topics! | | | |
Third Virtual National Healthcare Transparency & No Surprise Act Summit | April 16 - 19, 2024 | Virtual | | |
APG Spring Conference 2024 |
May 29 - 31, 2024 | San Diego, CA | | |
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On occasion, we showcase one of our solution providers in a 4-5 minute interview and ask them what they bring to the VBC Community and what sets them apart.
Today's guest:
| Lumeris empowers health systems to deliver exceptional value-based care through technology, insurance capabilities and on-the-ground know-how. Using their highly-acclaimed model and a team that is both passionate and experienced, Lumeris helps their partners advance population health, improve provider and patient experiences, enhance financial stability, achieve market-leading results, and ultimately fulfill the promise of value-based care. | | | |
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Platinum Level Exhibitors
Thank you to our Platinum Level exhibitors! These organizations offer the absolute highest quality products & services to the value-based care community. To learn more & visit their interactive booths, click on the logos below:
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Gold Level Exhibitors
Thank you to our Gold Level exhibitors! To learn more & visit their interactive booths, click on the logos below:
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Find out how your organization can be featured here and receive additional benefits including a customized booth on our website, social media campaigns, hosted and marketed webinars, an interactive session with top-level VBC executives and consultants, and more! Click here! | |
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Special Disclaimer
Unless stated otherwise, the opinions expressed in the articles featured in VBC Newsstand Weekly and the VBCExhibitHall.com Resource Library are those of individual authors and publishers and do not necessarily reflect the views of VBCExhibitHall.com or its team members (unless otherwise stated). We strive to provide a variety of perspectives on healthcare topics to promote diversity of thought and to foster informed discussions. VBCExhibitHall.com is not affiliated with the authors or publishers of the articles featured in this newsletter and does not have control over their content or editorial decisions. While we make efforts to carefully select and curate articles from reputable sources, VBCExhibitHall.com cannot guarantee the accuracy or completeness of the information provided in the featured articles. We do not assume any responsibility or liability for any errors, omissions, or inaccuracies in the content.
If you have any concerns about the content or suggestions for future articles, please feel free to reach out to us directly. We appreciate your understanding and continued support.
Sincerely,
The VBCExhibitHall.com Team
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