How Value-Based Care Helped Our Independent Practice Survive 2020
In a strictly fee-for-service model, revenues at our independent practice would have plummeted, and it is not clear that we would have lasted more than a few weeks without significant cuts. But value-based care agreements proved to be an important lifeline and allowed our practice to continue serving patients even in the midst of strict lockdowns.
While there is no one-size-fits-all solution, our experience shows how key features of value-based care can position practices to be more resilient, adaptable, and future-oriented, whether dealing with a short-term crisis or the long-term challenges facing independent practices.
By taking advantage of these value-oriented opportunities, we continued to meet our quality goals and maintain our eligibility for quality incentives. Our value-based care partner even accelerated these incentive payments, which proved to be one of the most impactful financial supports for our practice’s revenue stream.
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