Posts Taged preventative-healthcare

4 Value-Based Care Models Worth Trying

value-based health care models you should try

Preventable hospitalizations are costing the US a fortune. In 2006, hospital stays that could have been prevented with proper long-term care made up $1 out of every $10 spent on hospital-based care. In Minnesota alone, preventable health care costs totaled $2 billion in one year. How can we avoid spending money on preventable hospital stays and visits? Here are 4 value-based care models we can try to start saving money and living healthier:

1. Accountable Care Organizations (ACOs)

Accountable Care Organizations have proven highly effective when it comes to reducing health care costs. Because the current system focuses on profits over preventive care, health care providers stand to make more money from unhealthy patients who require more visits, prescriptions, procedures, etc. Under an ACO there’s a network of health care providers and hospitals collaborating to reduce costs by focusing on the patient’s’ long-term health instead of short-term solutions.

2. Patient-Centered Medical Homes (PCMHs)

Patient-centered medical homes are similar to ACOs in that there is a network of professionals working together. However, with PCMHs health costs are reduced through the exchange of data as well as collaboration. Instead of having a one-on-one relationship with a primary care physician, patients will have a team of health professionals focused on them. In Colorado, the Multi-Payer PCMH Pilot reduced emergency visits by 15% and saw a $4.5 return on every $1 spent.

3. Pay Incentives

Some value-based health strategies offer pay incentives for physicians who reduce patient visits. This requires health care providers to focus on long-term health goals that will reduce their patient’s chances of needing costly procedures, emergency visits, or hospital stays.

4. Bundled Payments

Another cost-effective health care method is bundled payments or when a single payment is required for services related to a specific health care episode, even if it may require assistance from different providers. Bundled payments encourage patients to follow through with recommended care options because they know there is only one fee they have to pay for the whole process.

The Catholic Benefits Trust focuses on providing cost-efficient and value-based health care to organizations sharing Catholic values. All members of CBT are granted a seat on our Board of Directors so everyone has an equal say when it comes to managing costs. You can learn more about how CBT embodies Catholic values and reduces health care costs for our members by contacting us today!

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How You Can Benefit From Joining An ACO

cost effective health care focusing on preventive medicine with accountable care organizationsThe traditional health care payment system favors quantity over quality. Because health care providers are compensated on a per service basis, they profit more from a high volume of patient visits, treatments, and procedures. This system isn’t conducive to preventative medicine because a healthy person wouldn’t generate as much profit as an unhealthy person.

How do accountable care organizations (ACO) solve this problem?

An ACO differs from the traditional system by rewarding health care professionals for keeping their patients healthy and reducing the number of procedures they need. Partnering with an ACO means the focus is on quality of care instead of quantity. Here are 3 reasons why you should consider partnering with an ACO:

1. The focus is on the patient, not the paycheck. The compensation system of an ACO facilitates more communication among caregivers and patients. Because one single doctor doesn’t have all the answers all the time, communication among a patient’s multiple doctors is important for giving accurate diagnoses and treatment. The ACO system requires communication by giving physicians an incentive to find care options specific to each patient’s needs.

2. Patients will have access to a larger team of healthcare professionals. An ACO brings health professionals and providers that share similar values together. As part of an ACO, patients and professionals will have access to the expertise of other professionals within their ACO’s network. This network also means that patients waste less time filling out forms and answering questions about their health. Because every member of the ACO is connected, patient information can be shared easily and securely among them.

3. Preventative care becomes essential to reducing costs and keeping patients healthy. This cost-effective care model means everyone benefits by improving and maintaining the health of patients. Not only does a patient’s health become more of a priority, but preventative care reduces long term spending. When you identify and treat a health problem early on, you save on possible costly, invasive treatments that would have been needed in the future.

At the Catholic Benefits Trust, we take a similar approach with our healthcare payment system. Instead of focusing on profits, we focus on providing the best care options for our members. You can learn more about our flexible, low-cost health care solutions on our website or when you contact us.

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Population Health Management

population health management challenges and advantagesMany have recognized that population health is the next step in the advancement of healthcare management. Unfortunately, developing a sustainable population health management strategy requires overcoming several challenges. Not all providers have access to the necessary technology and other resources required to establish an effective strategy.

What Is Population Health?

Population health focuses on preventing health problems before they require more financially-draining treatment solutions. It could mean instigating a wellness program or a treatment plan designed to encourage people to adopt healthier lifestyles. But simply hosting a wellness program isn’t enough. Population health management also means keeping track of patients and participants data for research and analysis. The aggregation of patient data into a single place for everyone to access and assess could lead to superior health and treatment solutions.

The Challenges of Population Health

Enabling strong communication amongst health professionals and providers is one of the biggest challenges of population health management. Physicians have been trained to diagnose and treat their patients in a single-minded fashion. Part of the new strategy requires experts to consider their patients more holistically. They would need to go beyond the traditional two-step process to collaborate with other professionals and consider other factors in their patients lives such as environment or occupation.

The effective and sustainable aggregation of patient data is another challenge to overcome when it comes to population health management. Having basic electronic health records isn’t always sufficient for high-level analytics required to develop effective health initiatives.

In order to transition to an effective population health management strategy, we have to develop a new culture in healthcare to encapsulate the needs of patients in alignment with this strategy. This involves training medical professionals and staff to adapt to a new system where the goal is to focus on the patient instead of the diagnosis. This evolving healthcare strategy wouldn’t be possible without modern technology. The infrastructure of population health management needs sophisticated platforms for aggregating and interpreting patient data.

The advantages to adopting population health management far outweigh the challenges. Population health would improve patient care while saving money and valuable resources to the benefit of patients, physicians, and providers. You can contact us to find out how the Catholic Benefits Trust is working to change our culture to encompass population health.

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