When employers evaluate health benefit plans for their employees, factors such as coverage, cost and customer service are typically cited as most important. However, companies nationwide are looking for innovative ways to improve employee health and more effectively manage how much they spend on medical care, including adopting new value-based care approaches that shift how care is paid for and delivered.
Under value-based care arrangements, the healthcare providers that employees use are paid for achieving certain quality outcomes and demonstrating that they’re improving people’s health, rather than getting paid solely for the number of services they provide to patients. In other words, they’re paid for value over volume. Value-based care arrangements can come in many forms for care providers, including performance-based contracts that tie specific portions of their compensation to achieving certain quality measures, or accountable care organizations that fully integrate both payment models and clinical services with the health plan.
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