Value-Based Care: The Next Evolution Requires Collaboration, Data Standardization, and Patient-Centric Approach
Washington D.C., [Date] - A recent panel discussion at the annual Healthcare Technology Conference shed light on the evolving landscape of Value-Based Care (VBC) and its need for collaboration, data standardization, and patient-centric approaches.
According to the panelists, VBC is no longer a single payer model that's a hedge or bonus but a partnership focused on improving patient outcomes and reducing costs. The discussion emphasized the importance of building strong relationships between providers and payers to achieve these goals.
Dr. [Last Name], a participant in the panel, pointed out that for VBC to succeed it requires not just perfect data but timely data. A model called pre-adjudicated claims data can provide real-time insights.
"It is a perfect marriage within the federal government to really achieve a goal," said Couts, emphasizing how the agency leverages its influence and scale to drive data standardization.
The panelists agreed that leveraging generative artificial intelligence (AI) and machine learning in Electronic Health Records can improve outcomes for VBC by extracting actionable insights from patient data.
Generative AI enables better extraction of clinical data, diagnoses coding and social determinants of health. In addition, it provides patients the ability to access information about their own treatments, more so compared to traditional care delivery models based on medical records.
Another solution which could solve key obstacles for VBC is FHIR, a protocol that enables interoperability between different EHRs systems - improving the efficiency and effectiveness of data exchange. Furthermore, standardizing both quality measures and financial transactions will help create greater value through this program.
Ultimately, Couts emphasizes how CMS uses its influence and scale to leverage data standardization - especially for a larger group or community - enabling better patient outcomes and stronger partnerships with payers, vendors, and government agencies.
This approach helps improve the efficiency of care delivery systems and enables them to identify areas that can be improved on.
In its final statement to the audience, Dr. [Last Name] reiterates how strong partnerships for VBC are vital to ensuring patients get the best possible outcomes from their health interventions - even in environments where medical providers don't always agree on quality measures.
And with these strong partnerships, data standardization could be greatly improved and provide real-time insights – empowering healthcare professionals to make more informed decisions when it comes to care delivery.