The US healthcare landscape is changing. Traditional fee-for-service (FFS) payment models have proven to be financially unsustainable and ineffective at addressing patient needs, a trend that has only been exacerbated by COVID-19 and rapid inflation. The pressure from regulators, patients, and market disruptors to move away from FFS is pushing the market to reconsider how contracts should be structured to best align payer and provider incentives for improving quality of care, enhancing patient experience, and reducing cost of care.

This past year, our team has made strides to make value-based contracting easier by introducing Contract Designer, which enables organizations of any size to enter into value-based arrangements regardless of their level of actuarial and data capabilities.

Every provider has a plan to move into value-based contracts over time, but most lack the operational capabilities needed to move to risk and therefore end up being stuck in fee-for-service mode.

In this fireside chat, Accorded CEO and Co-Founder, Frank Cheung, talks to Nick Aubin, CEO and Co-Founder of Commons Clinic, about what it’s really like to implement value-based contracts as a modern multi-specialty clinic.

Value-based care (VBC) holds providers accountable for the patient care that they deliver and incentivizes them to improve clinical outcomes and reduce cost of care.

For employers that want to ensure that the pricing of a solution is aligned with ROI and want to select providers who can drive the most clinical and financial value to their organization, value-based contracts can help to maximize healthcare investments.

Motivation

Employers are rethinking approaches to improving the quality of care provided to their people while also reducing the cost of care per employee. The Willis Towers Watson 2020 Health Care Delivery Survey indicated that 73% of employers intend to adopt alternative care delivery models by 2023.¹

At the recent DHNY Summit, our CEO, Frank Cheung, FSA, MAAA, moderated a panel that highlighted key considerations for providers when navigating from fee-for-service to value-based care models.