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Four Value-Based Care Capabilities for Success with New Care Models
Providers adapting to the evolving healthcare landscape must develop four essential capabilities outlined in the Healthcare Financial Management Association's (HFMA) "Value Project" report. These capabilities include fostering a culture of collaboration and accountability, harnessing business intelligence to measure quality and cost, driving performance improvement through reduced clinical process variability, and honing contract and risk management skills to facilitate provider collaborations. Achieving value in healthcare necessitates interdisciplinary teamwork, accountability, and effective communication. Business intelligence is crucial for measuring quality and cost, while performance improvement entails identifying and prioritizing areas for enhancement. Contract and risk management skills are essential to enable accountable care and navigate the complexities of provider networks, risk assessment, and evolving payment methodologies. In this dynamic environment, providers must adapt, collaborate with payers, and ensure optimal care utilization.
Medigy Insights
The Healthcare Financial Management Association's "Value Project" report highlights four critical capabilities for healthcare providers facing the shift towards value-based care. These capabilities involve fostering a culture of collaboration and accountability, using business intelligence to measure quality and cost, driving performance improvement by reducing clinical process variability, and enhancing contract and risk management skills to facilitate provider collaborations. These abilities are crucial for delivering value in healthcare by ensuring better outcomes, reduced costs, and effective provider partnerships in evolving care models.
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