Value-Based Care: Core Competencies Define a Road Map Forward
The concept of value-based care (VBC) means so much in health care, yet it often means different things to different people or remains unclear. We have witnessed unprecedented health system mergers, increases in physician employment, the rise of health plan conglomerates and the creation of evolutionary partnerships, all largely in search of this elusive “value.”
Some leaders remain skeptical and view VBC as a passing fad, while others have fully embraced delivery system transformation in conjunction with novel payment models. Whether your organization falls into the former or latter category, Sg2 considers improving the health of your population, enhancing patient experience and outcomes, and reducing per capita costs of care to be foundational to VBC, and we have identified 8 key competencies to successfully deliver value (a unifying goal for all health systems), including payer, consumer and market dynamics; financial attributes, cost and utilization; and physician alignment.
Define Your Road Map to Transform Value
Regardless of how your organization defines the elusive value-based care, delivery systems and payment mechanisms are evolving. Testing new payment models on a small scale is fine for some, but to truly effect change, health care organizations need a defined strategic road map—a plan that sets the direction for the organization, prioritizes areas of opportunity and defines how success will be measured. Read the full Expert Insight for 5 more top competencies and to review the key Sg2 resources to help set your plan into motion. Not an Sg2 member? Contact us to learn more about how Sg2 can help you define a cohesive road map forward with VBC.