New Study Shows Consumers Unfamiliar with Value-Based Care
62% of consumers have never heard the term “value-based care” before
Oct 26, 2021 – EmblemHealth recently released their white paper, Value-Based Care: A Shared Mission in Need of a Shared Language. The October 2021 report looks at the shift from volume to value for patient health.
EmblemHealth surveyed a diverse group of nearly 1,000 consumers online between August 12 and August 22, 2021, to assess the patient perspective of value-based care. Questions asked in the survey included whether patients are aware of value-based care, could increased awareness influence patients’ perceptions of providers and care, and whether consumers want to learn about value-based care.
Value-based care is a widely utilized term in the healthcare industry, but it is important to understand how well consumers understand the term. The survey yielded interesting results that highlight a path forward to assist consumers in better understanding their care.
Key Findings on Value-based Care
The healthcare industry is transforming to value-based care payment models, but consumers fail to recognize the term. Only one in four consumers surveyed have heard the term “value-based care” before. That leaves nearly 74% of consumers having never heard the term or unsure if they had.
Taking things a step further, the survey asked consumers to define what value-based care is. Of the 26% who were aware of the term, only a quarter could properly define it. This further highlights the need to enhance communication and education regarding value-based care.
Importance of Communication Between Provider and Consumer
The study shows that it is important to provide clarity on value-based care.
“Our findings show that it is crucial for healthcare leaders to improve communications around the purpose and benefits of value-based care,” Karen Ignagni, president, and chief executive officer of EmblemHealth, said in a press release. “Now is the time for health plans, clinicians, and policymakers to bring clarity, communication, and understanding of consumer familiarity with this language.”
But who should provide that communication and education? According to the survey, 63% of those surveyed reported that both their doctor and health insurer should provide messaging regarding value-based care.
Cost and quality of care are cornerstones of the patient experience, but the survey provides an insight into the lack of consumer awareness. It is essential to create a shared language that will drive consumer understanding.
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