BDO, an accounting, tax, financial advisory, and consulting organization based in Chicago, recently released the results of their 2021 Healthcare CFO Outlook Survey. This survey includes responses regarding the health care industry outlook from 100 CFO.
Veeneta Lakhani, SVP of Health Services at Vida Health, believes that it is time to utilize digital tools to increase the quality of care and patient outcomes.
CMS announced that the Home Health Value-Based Purchasing (HHVBP) Model has been certified for expansion. The HHVBP Model has led to an average annual savings of $141 million to Medicare.
While some have responded well to new federal direct-contracting value-based payment models with excitement, others believe there are serious flaws in them.
Among others, the study found that there were better outcomes in MA than FFS for all populations analyzed in 17 of 22 clinical quality of care measures.
Commitments for 2021 – Onward! THE VBP Blog Looking back at 2020 would be what most of us do this time of year, however, we are always looking forward and Onward! So, there are commitments we making to drive our planning for 2021, we hope these help you to make your own commitments and resolutions for the upcoming year. Photo by Hide Obara on Unsplash Our Commitments for 2021 1. Stay True to Our Mission to be Advocates First We say that every time we introduce ourselves to new clients. We find that having a mission helps guide our decisions, our approach, and recommendations we make. When you think about your own organization: Revisit and update your mission to make… Read More »Commitments for 2021 – Onward!
The Primary Care First VBP Model Explained THE VBP Blog [12/17/20] The Primary Care First (PCF) model was established by the Centers for Medicare & Medicaid Services (CMS) Innovation Center. It offers a regionally-based, multi-payer approach to primary delivery and payment. By design, PCF allows for increased flexibility and freedom for practitioners to be innovative in their approach to increase quality and reduce costs. PCF will be offered in 26 regions in 2021, including many that were covered in our I/DD Managed Care Review blogs. In those blogs, we covered the ten current programs being offered. Out of those ten, five (New York, Tennessee, Kansas, Arkansas, and Michigan) also have a PCF option. This leaves us hopeful that PCF programs… Read More »The Primary Care First Model Explained
CMS’ Overhaul Could Mean VBP is Working for Consumers The Stark Law has been modernized: Here’s what you need to know THE VBP Blog [11/24/20] This week, CMS announced they were modernizing and updating the Physician Self-Referral Law (i.e. “Stark Law”) to steer it towards a value-based payment (VBP) structure. The core of the law, to protect patients from unnecessary, low quality, and expensive services, will stay in-tact. The new adjustments support the CMS “Patients over Paperwork” initiative of reducing unnecessary regulatory burdens on physicians. Photo by Tingey Injury Law Firm on Unsplash The Stark Law History In 1989, when healthcare was paid for primarily on a fee-for-service (FFS) structure, the Stark Law was put into place to protect patients… Read More »CMS’ Overhaul Could Mean VBP is Working for Consumers
Pay-for-Performance Developing and Expanding Opportunities THE VBP Blog We are circling back to cover pay-for-performance, the second stop on the value-based payment continuum. The pay-for-performance (P4P) model gives providers bonuses for hitting quality and efficiency targets. As we continue to focus on whole-person care, the new normal of hybrid payments continues to shift. According to Health Care Payment Learning & Action Network (LAN), in 2018, 25% of all fee-for-service payments had a link to quality or value, including pay-for-performance models. To understand more of the basics, you can check out our first blog covering P4P. Pay-for-performance is a payment model that attaches financial incentives to provider performance. Incentives can range from small bonuses to large payments, depending on the… Read More »Pay-for-Performance – Developing and Expanding Opportunities
Exploring Bundled Payments THE VBP Blog When we started the VBP Blog back in 2018, we broke down the building blocks in the continuum for Value-Based Payments. In the last blog, we revisited Alternative Payments and what had changed since our original analysis. In this one, we will be covering Bundled Payments and what they mean to Value-Based Payments. Bundled Payments Refresher As a refresher, bundled payments – also known as episode-based payments (EPMs) – are an alternative payment method (APM) in which services are grouped together and a target price is calculated. This target price is the total allowable expenditure throughout an entire episode of care. A bundled price can be set and adjusted based on risk factors, age,… Read More »Exploring Bundled Payments