Bending the Cost Curve: The Power of Value-Based Care

Practicing Excellence is pleased to announce that the third and final part of the Value-Based Care Program is now launched in the app. 

We know that delivering clinical excellence at a lower cost is one of the greatest challenges in healthcare today, with U.S. healthcare spending surpassing $4 trillion and accounting for 17% of the total GDP. With projections suggesting that health spending will reach over $7 trillion by 2031, there is a broad consensus that the cost burden of care is unsustainable.

Our hope for this program is that clinicians and leaders will learn and engage in actions with patients to advance value. The Value-Based Care Program is a clinician-to-clinician guide on the knowledge, understanding, and actions required to truly bend the cost curve while reducing waste, improving patient participation, improving care equity, and diminishing the clinical and cost harm that arises from low-value care. We want clinicians to feel empowered to make a difference in providing high-value patient care.  

In Part 1, we launched Bending Cost While Increasing Quality. In Part 2, we covered Managing Risk As A Group. In this newest part, we are discussing Providing High-Value Care.

There are four skills in this program:

  • Documenting Care
  • Aligning Effort
  • Transitions Of Care
  • Verifying And Tracking Success

These cover the fundamentals of value-driven care documentation and risk-adjusted coding, delivery costs and data reporting, care transitions to prevent harm, and measuring success through data collection on the journey to mastering value-based organizational initiatives. 

Value-based care is patient-centered, evidence-based, and highly coordinated, and we believe that clinicians are essential architects of this important paradigm. With the skills learned in this program, clinicians have a pivotal role to play in shaping a healthcare system that prioritizes value over volume. Through this program, we hope that you will join us in becoming champions for care that reduces the cost of care delivery while preserving and advancing quality for the individuals and communities we serve.

Now, more than ever, skill-building in healthcare is crucial. If you’re seeking assistance to kickstart your organization’s continuous improvement journey, get in touch with us now!

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