What is Value Based Care (VBC)?
Value Based Care: Health care that is designed to focus on quality of care, provider performance, and patient experience.
Value Based Payment: A payment model for care delivery that depends on the quality, cost, and/or outcomes of the services that are delivered.
Why Should Health Centers Implement VBC?
High-quality primary care is the foundation of a high-functioning health care system. Despite its importance, primary care remains at risk and under-resourced, accounting for 35% of health care visits while receiving just 5% of health care expenditures.¹
Payers are shifting their focus from volume-based care (e.g., fee-for-service (FFS)) to value-based pay (VBP) to incentivize provider accountability for cost, quality, and patient experience, rather than basing payment solely on the volume of visits. VBP models are designed to reward providers for proactive management and care coordination of patients, thereby reducing inefficiencies across the health care system.
It’s essential for health centers to implement VBP models not only to earn additional revenue, but also to retain existing patients and compete for new patients as payers assign their members to providers participating in VBP models.
