Characteristics of Successful Alternative Payment Models
Value-based care seeks to improve care quality while reducing cost, and does so, in large part, through the use of innovative alternative payment models. But for payers, transitioning from volume-based payment (i.e., fee-for-service) to value-based alternatives is easier said than done.
On today's show, Mark Berg of McKinsey & Company's Healthcare Innovation group join's Change Healthcare's Rob Capobianco to talk about the steps payers need to take to succeed with value-based care and APMs, and the seven characteristics of successful alternative payment models—the topic of a recent McKinsey report.
Here's what they covered:
- What does McKinsey & Company do and who are their clients (03:47)
- The importance of having organizational systems in place to scale value-based models (07:57)
- Value-based payment as a core strategy for medical cost control, and the role of primary care practices (11:16)
- Value-based care pain points and the importance of stakeholder engagement (18:03)
- How episodes-of-care can help payers develop their value-based strategies (22:24)
- The seven characteristics that make a value-based model successful (27:37)
- How risk shapes success, and how fast or slow to go (32:34)
- When should payers commit to value as a core strategy (34:40)
Episode Resources
- Contact Cappy
- Mark Berg's bio
- The Seven Characteristics of Successful Alternative Payment Models
- Research: Value-Based Care State-by-State
- Seminar: How Anthem is Scaling Value-Based Payment
- Value-Based Payment Resource Hub
Show Resources
