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Clouds photoshop6/19/2023 Overuse of the term platform has rendered it virtually meaningless. Virtual care options will expand access, increase use of preventative care and enable faster interventions to avoid more intensive and costly interventions later.Įveryone has a platform just like everyone’s technology is powered by artificial intelligence and everyone’s care model is patient-centered. Time-saving and cost-cutting automation will replace time-consuming and cost-driving manual tasks. Central to those twin goals will be digitization and virtualization. Such new VBR models will change behaviors to reduce costs and improve outcomes. Think full-risk bundled payments for episodic care and full-risk capitation for population health. The next generation of VBR models will offer two-sided risk-a bonus if you do well but a penalty if you don’t. Others are voluntary rather than mandatory. They pay for volume and offer bonuses for hitting cost and quality targets. Most VBR models to date are fee-for-service one-offs. A decade or more of experimentation with value-based reimbursement models has taught us a lot about what works and what doesn’t work in terms of changing behaviors. It’s why we as a nation pay more for healthcare than any other country yet don’t see our investment manifest itself in superior clinical or population health outcomes.īut that is changing. Behavior follows money, and money follows behavior.įee-for-service reimbursement models pay providers with little regard for cost or outcomes. In healthcare as with any business, there’s an inextricable link between money and behavior. Let’s look at how each of the three Ps will accomplish this previously inconceivable objective. Despite the most aggressive foot dragging by incumbent healthcare organizations, the three Ps-payment, platforming and personalization-will propel legacy care and financing modalities into the future. Despite decades of annual proclamations by gurus that this finally will be the year of a “tech-tonic” shift in healthcare to digital and virtual care and financing modalities, it has yet to happen.
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