Technology driven value-based care July 17, 2017
The shift to value-based payments from fee-for-service payments is essentially a shift to quality from quantity. No longer will physicians be paid for each service or each visit. The trending emphasis is on providing value-based primary care that is focused on the quality of patient outcomes rather than the number of patient visits. How can technology help physicians deliver on the promise of value-based care?
Financially, the independent physician will need to be prepared for the new fee structure, according to a recent article in Revenue Cycle eLearning. With a “true outcomes-driven model, the bundled payment model will require the payer to look ahead and pay providers a single, pre-determined price for an entire encounter at the time of service delivery.” The single payment will include all related services and follow-up visits.
Adopting an EHR system will become essential to managing value-based primary care for optimum patient and financial outcomes. Effective technology will be an essential tool for the independent physician in driving not only financial solvency but also patient health. As the article notes, “an EHR will serve as the underlying system for everything moving forward.”
An EHR system enables the independent physician to manage patient care as well as the practice itself, more efficiently and effectively. Having access to a patient’s complete medical record, including information from other providers, labs, and healthcare facilities, enables the independent physician to develop and implement a more complete overall picture of the patient’s care plan. Redundancies – and the associated costs – are reduced or eliminated.
Elation’s philosophy from the start has been to help independent physicians provide value-based primary care that benefits the patient and the practice. We recognize the enormous chasm between the world of policy and payers and the world of the front-line physician. We have built our solutions with a mission to strengthen the relationship between patients and physicians, and enable phenomenal care for everyone. Elation’s EHR system can help transform value-based primary care.