The Pros and Cons of Value Based Systems
Many healthcare organizations have hired on staff and redesigned or upgraded their infrastructure to support participation in value-based payments. Lacking data management makes it difficult to reach value-based care goals, which could result in hefty penalties.
While many healthcare systems are revamping their infrastructures to promote the value-based payment model, physicians are finding themselves still facing the same challenges this year. These challenges are the same ones we’ve been discussing since the beginning of the performance-based incentives.
Physicians are still finding themselves with inconsistent performance reports, differences in performance measures, little to no staff time, and the relationship between payer and provider lacking transparency. Healthcare organizations are also finding it hard to meet quality expectations associated with performance incentives.
Physicians are worried, even with the value-based care, that patients are not seeing any positive benefit. The overall idea behind value-based care models is one that providers can buy into. But, because of the lack of transparency in data and inconsistency in reporting models, it has not succeeded very well thus far.
Getting ahead is something that most healthcare systems struggle with because they are so busy focusing on patient care to focus on improving patient care. The volume of electronic health records and the amount of healthcare data in their systems cause physician and nurse burnout. Success in the value-based care model is crucial to provide more physician satisfaction.
Some physicians are not implementing the value-based care model being they fear it is too risky with not enough evidence to support that it works. Even still, most experts believe that the value-based care model and incentive payments are going to be the future for healthcare organizations. Implementing these systems now will ensure these healthcare systems are ahead of the game when/if this becomes mandatory.
Fortunately, there are ways to reduce the burden of data collection for merit-based incentive programs. Having an automated document classification system can help find important measures and pull them into a reportable format. This reduces the need for administration or physicians digging through piles of data to find measures that need to be reported on.
If you are finding your healthcare organization is struggling to compile and gather this data to report on, find a time below to learn more about how automated document classification and extraction can help you.
