Description

Author: Koustav Chatterjee

The concept of value-based care was established to address critical challenges encountered by all healthcare stakeholders—government, providers, health plans, and patients. Historically, the US healthcare system has largely focused on the treatment of patients with immediate needs. In most cases, the market has failed to successfully manage at-risk patients, and indirectly catalyzed incremental demand for healthcare services. Some of the critical factors that prompted the need for value based care are as follows:

·     The shift in population demographics coupled with the rising demand for evidence-based care is driving the need for better prediction and management of population health, especially for chronic care patients.
·     The need to build a broader, coordinated, and patient-specific healthcare ecosystem that connects siloed systems, improves process efficiency, and drives better outcomes is requiring adoption of value-based healthcare IT solutions.
·     Patients’ interest in digital solutions to address access to information, creating a competitive need for value-driven digital intervention, promoting convenience and driving secure and reliable communication across the entire care continuum.
·     Payers active interest to manage member-performance through IT is (potentially) paving the way for a new era of payer-provider partnerships

These impending market trends have necessitated innovation in the way healthcare should be perceived, delivered, and optimized. This growth insight covers observed feedback by Frost & Sullivan from provider sessions held at the NG Healthcare Providers Summit in Florida in June 2017.