Value-Based Care vs Fee-for-Service Care
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- Опубліковано 8 вер 2024
- The US healthcare system is slowly replacing its traditional fee-for-service care model with value-based care. This is the difference between both payment models.
Fee-for-service care is the old school, traditional model of healthcare payments. With fee-for-service, payments are made directly based on the amount of service patients receive, regardless of the quality of those services. The model heavily rewards patient volume, as more patients seen means more money generated.
The system is more common among private practices, although there are some hospitals that continue to follow this payment model.
With value-based care, instead of reimbursing physicians for each individual service they render, reimbursement is tied to the quality and effectiveness of the care provided.
Value-based care excels at reducing unnecessary services, creates physician accountability to ensure patient satisfaction, and produces incentives for preventive healthcare.
However, it’s difficult to implement because patient outcomes can be tough to measure accurately, and it comes with a more stressful, error-prone billing process.
There is a strong national push to reduce healthcare spending by stopping unnecessary tests and procedures from being performed. To achieve this goal, the US may be able to slowly transition to a value-based care system in the coming years and decades.
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Exactly how though?
The current system exists because the US health system is a profit machine and that system makes the most money. Traditional competition doesn't work in healthcare as sick people often can't shop around and lack the knowledge to make informed tradeoffs even when they do have a choice.
So what would drive healthcare providers to switch to this seemingly less profitable model? Or is this just a pipedream
It's "this procedure doesn't provide enough value, so we won't let you have it", so still very profit-based. It has some advantages, for example most insurance companies will pay 100% of sterilization procedures because it saves money over birth control and pre- and post- natal costs. But, the actual value to the patient doesn't matter, only the percived value to the people measuring.
Notice the difference between the words "value-based" and "outcome-based". And who wants to bet it's not the patients who are going to determine whether they received value-based care or not...
This is misinformation, the rhetoric here is trying to say that value based care is a solution. But “value based care” has been the standard for decades, especially in private practices. Part of the reason that medical care in the states is so much higher than every other country in the world is because of “value based care”.
But this would mean doctors don’t have an incentive to see more patients, neither do they need to see the difficult cases. They can just see the easy ones that will clearly incentivise on the quality of care given. This is a trash system if you think about it. Hospital wait times will be in the month to years instead of weeks to months.
My doctor from the Mayo Clinic would be payed $0 if her income was based on the value of her care. She’s so useless.
You are making it sound like it is a good thing, value based care is the better of two poison, it isn’t a solution.