The value-based healthcare model has the potential to transform both patient satisfaction and outcomes. Properly implemented, the foundation of the value-based care model is improving value for patients. This means improving patient outcomes without raising the cost of care. In this heavily volume-driven healthcare society, this paradigm switch can transform patients who feel like a number, to patients who feel valued.
Value-based Healthcare Builds Trust
As more healthcare organizations transition to a value-based model, greater emphasis will be placed on quality over quantity. This is a big win for patients who have questioned the necessity for having certain tests and treatments in the name of big business. Over time this will reestablish trust in the eyes of the patient.
Value-based Healthcare is Data Driven
A recent study reported that 43 percent of physicians felt they had the tools needed to support the data-driven value-based model. For the model to work, a thorough understanding of outcomes is required. as well as the results they can expect.
Value-based Integrative Care
Instead of treating the disease or injury alone, the value-based model also treats related conditions. This is achieved through integrative care. By weaving together different specialties and clinicians as well as all necessary tests, the entire clinical needs of the patient are met for the disease or illness in which they presented. This creates convenience for the patient in addition to improved health at a lower cost.
Value-based Healthcare Strengthens Relationships
Another big win for patients and providers is that value-based care will allow providers to spend more time cultivating relationships with each patient. Current models exploit a doctor’s time by requiring they see as many patients as possible. Conversely, value-based care is about quality instead of quantity.
While still in its’ infancy stages for most organizations, value-based healthcare is coming. Reimbursement rates continue to decline as many healthcare practices and facilities struggle financially. The decision must be made whether to adopt the model early and reap the benefits of leadership or follow the masses in time. For healthcare organizations that want to make a change in patient satisfaction, improve outcomes and financially grow, value-based healthcare is an investment worth making.
Want more tips for improving patient satisfaction? Check out our blog, 5 Things that Drive Patients Away.