How prepared are healthcare organizations to enter into value-based care? Many may not be ready. While early value-based care adopters have focused on improving and measuring quality, they’ve often overlooked steps to bear the associated financial risk. Now that health systems can enter into alternative payment models and risk-based contracts, they need to ensure that cost is as much a priority as quality.
Health systems can achieve sustainable value-based care success by optimizing the five core competencies of population health management:
- Governance that educates, engages, and energizes.
- Data transformation that addresses clinical, financial, and operational questions.
- Analytic transformation that aligns information and identifies populations.
- Payment transformation that drives long-term sustainability.
- Care transformation as a key intervention in value-based contracts.