November 22, 2011

Well…there is no concrete, defined answer at this point as to what constitutes value-based medicine or the model that our system is attempting to move towards – as is being (or rather, at this point, attempted to be) guided by Medicare.  What we know about value-based medicine thus far, is that the value in the value-based model will likely be determined by qualitative care measures, including decreases in hospital admissions, and controls in place for patients with chronic illness.  With these concepts in mind, and the fact that regular questions I get about potential changes in our system are practical questions, such as, how is this going to impact my practice?  What does the government expect me to change in my patient care?  I want to share a recent article I came across that may better highlight “value-based” models that are in and have been in development for some time now.  Whether this model will catch on across the board and replace volume-based reimbursement – its hard to tell at this point.  But, I know one thing, if the payors in our system, as they exist now (especially Medicare) have it their way, paying per service will be extinct sooner rather than later.

By Tom Main and Adrian Slywotzky