New care delivery networks and value-based arrangements are emerging in communities nationwide. While the pace of change varies in different communities, healthcare organizations must be proactive or risk being left behind. The transformation in how providers deliver and are paid for services is, and will continue to be, challenging. The terms of value-based contracts are significantly different from the terms of fee-for-service arrangements.
Many providers will choose to make large investments to enlist firms to provide consulting or ongoing services to help them make this challenging transition to value-based care. One of the most powerful measurements of success for these engagements is the provider organization’s improved ability to enter into future risk-bearing agreements.
Over 60 healthcare executives recently shared their perspective as to how the 10 firms charted below helped their organization prepare to enter into future risk-based agreements. Overall, most providers felt their engagements with these firms have had a strong impact on their ability to enter into future risk-bearing agreements. Providers report that firms have provided benefits by assisting with the construction of population health capabilities, providing thorough assessments and road maps, and successfully forming various governance structures. Advisory Board, Evolent Health, Premier, and Valence Health are market leaders when it comes to helping providers confidently assume more risk, with at least six clients for each firm saying the firm has made a high impact.
As hospitals, healthcare systems, and other providers evaluate their value-based care options, they must recognize that preparing for value-based contracts will require planning, new skills, and a new approach to healthcare delivery. Taking measured, incremental steps will increase the chances of success for organizations facing a shifting healthcare environment. At the same time, choosing the right partner to help you with the shift is critical to success. While each of the 10 firms above has various strengths and weaknesses, there are a few firms that have clearly demonstrated the ability to help position providers for the future.
Participation in the shift to value-based care is essential to realizing the goal of improving clinical outcomes and patient satisfaction while decreasing healthcare delivery costs through value-based arrangements. Next month, we’ll take a deeper look at the firms your peers thought were most effective at helping them achieve these 3 critical goals.