The traditional fee-for-service model in the healthcare industry is slowly yielding to value-based programs. However, transitioning to value-based care is a slow and often challenging process that may take many years to successfully complete. As the future of oncology, the transition to value-based care involves critical efforts from everyone from IT support staff to providers and administrators.
Despite the challenges, value-based oncology care yields extensive benefits. This is a major realignment that supports improved patient care, including preventive and acute care. Once fully implemented, value-based care strategies deliver a patient’s entire health history to a clinician so that enhanced care can be provided. In addition to improving patient outcomes, improvements to performance and cost can occur.
1. Schedule Completion of Steps
The time for the adoption of a value-based care strategy varies by market and may be dependent on competitors, market size, market costs and other factors. However, it’s important to begin the transition process soon and to establish a schedule for the completion of steps. Making the transition to value-based oncology care is a challenging and time-consuming process. Adopting the right value-based care strategies is essential to improving oncology care.
2. Be Aware of Your Client Population
Relevant factors are insurance plans, health histories, demographics and more. After you collect this information, providers must determine what data is important, can be collected easily, and matches the patient population and if it the data collection can be precisely measured. Understanding these critical factors will impact how value-based healthcare is delivered to that population.
3. Invest in High-Quality Staff
Transitioning to value-based care often involves adjustments to workflows and the addition of more touch points. As a result, an investment in high-quality staff and an adjustment of roles and responsibilities may be necessary. Investing in modern technology may also be beneficial in some cases.
4. Establish Strong Partnerships
To more fully improve patient outcomes, an important value-based care strategy to establish strong partnerships with affiliated organizations could be crucial. One of many examples is to partner with a group that provides transportation for those in need. The partnerships selected should be aligned with patient demographics and needs.
5. Pre-Plan Your Value-Based Care Strategy
Pre-planning is crucial when transitioning to value-based care. The focus should be centered on adjustments to workflows, reassigning and updating responsibilities, and identifying metrics that will be used once the new care model is launched.
6. Launch Your Plan Even If It’s Not Perfect
Once an effective plan is in place, launching the plan is the next step. In many cases, the initial plan may not be perfect in all regards, and additional adjustments will be necessary. Working with experts and using modern analytical tools may be helpful.
7. Consistently Improve Quality
After the launch, the focus should be on consistently finding opportunities to improve quality. This is an evolving process rather than something that is finally attained. Using predetermined metrics, regularly compile and analyze reports to monitor progress.
8. Practice Communication
Establish open lines of communication with staff members and clinicians to encourage feedback. This enables the rapid identification of gaps in care and supports the ability to improve processes, adopt new tools and find other ways to improve patient care.
The Impact on the Future of Oncology
Transitioning to value-based healthcare has proven to be challenging on many levels. For example, chronic health conditions that require ongoing and coordinated care are currently difficult to manage through value-based care. In addition, the attribution criteria used to assign a patient to a specific network are often unclear and confusing. There are also challenges related to the timing and accuracy of health plan claims, and this slows down the delivery of crucial care. Another challenge is the prevalence of patients transitioning to different providers for their healthcare services over time.
Value-based care places a solid emphasis on patient care, and it’s increasingly replacing the fee-for-service model that has been prevalent for decades. Specifically, it’s a framework of strategies that will collectively restructure healthcare systems to focus on patient outcomes. While the future of oncology is firmly rooted in value-based programs, much work needs to be done.
Oncology’s future is firmly rooted in valued-based care programs. The effective adoption of valued-based care strategies and a focus on continually identifying opportunities for improvement will promote efficiencies and financial savings for providers. More than that, improved patient care and outcomes are expected. High-level support is available to help today’s oncology practices navigate through the transition.
About Verdi Oncology
At Verdi Oncology, we provide members of our network with the framework and resources to offer personalized and compassionate oncological care that best meets their needs at every level. Our value-based approach to cancer care ensures our providers can focus on what’s most important — the patient. Contact us to learn more about joining our network of small, community based oncology practices.