How Digital Health Enhancing in a World Value-Based Care

Value-based healthcare is a form of healthcare delivery model in which healthcare providers are charged for the quality of the care they deliver, instead of the number of care they offer.

Under this type of care, the main aim of the providers is to deliver better health outcomes for patients and on the other hand reduce the overall cost of care. This is achieved by focusing on preventive care, coordinated treatment plans, and managing chronic conditions effectively.

This healthcare delivery model seeks to improve patient health while making healthcare more cost-effective and efficient.

In this blog, you can learn how digital health revolutionizes the value-based care model and challenges and considerations of Value-based care.

Why
Physicians Should Care About Value-Based Care?

Value-based care is a type of repayment that attaches payments for care delivery to the quality of care provided and rewards providers for both productivity and viability. This type of repayment has arisen as another option and replacement for fee-for-service reimbursement. 

To change how medical care suppliers are repaid for administrations delivered, the Centers for Medicare and Medicaid Services (CMS) has presented a variety of significant value based care models, for example, the Medicare Shared Savings Program and Pioneer Accountable Care Organization (ACO) Model. Private payers have thus received comparable models of responsible, value-based care.

While the traditional fee for service repayment model advanced quantity of services, government authorities have proposed a few repayment programs that reward healthcare providers for the quality of care that they provide for patients. Value-based care aims to provide better consideration to people, improving population health management strategies, and reducing healthcare costs.

Key Principles of Value-Based Care

Value-based care(VBC) is a healthcare model that focuses on streamlining patient care while at the same time keeping costs reasonable. It mainly targets quality over quantity and involves several key principles, including:

Patient-Focused Approach

Patient healthcare plays a significant role in value-based care. It is based on a clear understanding of individual patient needs, preferences, and goals.

It has a comprehensive control over the patient’s care journey results in better patient outcomes, reduces the number of hospital readmissions, better chronic disease management, and improves overall health and well-being.

Care Coordination

Having a better conversation between providers, insurers, and the patient plays a major role in value-based care. The efficient coordination before visits allows the care team to engage with patients. Delivering coordinated services post-discharge helps improve medication adherence, it decreases the rate of readmissions.

Focus on early Intervention and Prevention

The main focus here is to take care of the patient throughout their lifespan. When it comes to the value-based care model, providers must take preventive measures and early intervention. This is primarily to avoid high medical bills and keep safe from the patient’s healthcare journey.

Data-based care

Data is considered one of the key elements in tracking, auditing, projections, and more in the healthcare environment. Especially in Value-based care, data analytics to identify trends, patterns, and areas for improvement enhancing comprehensive patient data. 

Result-oriented care

The core principle of the value-based care model depends on providers to improve patient outcomes at minimal costs. The best patient outcomes are easy access to health data, their overall experience with the doctors, and value for patients.

• Pay for performance (P4P)
• Gain sharing
• Value-based purchasing
• Risk-adjusted care
• Risk-sharing
• Population-based payments
• Incentivized payments
• Capitation arrangements

Challenges and Considerations of Value-Based Care (VBC)

Privacy and Security Concerns

In the Value-based care model, the use of digital health tools, electronic health records (EHRs), and data analytics plays a major role. The trust in digital data has increased, and this concern ensures the protection of sensitive patient data.

Regulatory Compliance

Healthcare providers need to follow strict regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) in the U.S., which is essential for secured patient data while utilizing advanced digital tools and adhering to these regulations may be challenging. 

Challenges in Interoperability

The major issue in Value-based care is the integration of different digital tools and systems with multiple healthcare providers and settings.

Where most healthcare organizations use multiple EHR systems that may not be convenient to access, which leads to difficulties in transferring from one system to another.

Takes sufficient time to Adaptation:

The implementation of a value-based care model requires healthcare providers to adopt new technologies and it takes sufficient time.

The adaptation process includes training sessions for clinicians and staff, who practiced traditional fee-for-service models.

In the above paragraph, we have discussed the challenges that associated with value-based care. Now let’s see how the digital platforms are boosting and resolving the above challenges in value-based care.

Digital Platforms In Value-Based Care

Digital
technology plays a great role in providing quality care for patients. As the
emergence of digital tools is growing each day, patients are started demanding
more quality services from their healthcare providers via digital tools such as
online appointment scheduling, online bill payments, telehealth, and more. Here
we listed out the two digital techniques which drastically transform
value-based healthcare in 2021.

1.Digital Patient Engagement Tools

Due to the COVID-19 pandemic, the healthcare provider’s ultimate goal is to provide value-based care and to improve patient’ care. To provider that the digital patient engagement tools play a key role in helping patients to stay focused on their health goals. The digital tools also allow patients to engage effectively with their health providers and ask questions that come up between visits.

While patients are not going with in-person visits nowadays, remote patient monitoring is gaining a huge presence in today’s healthcare marketplace. Especially for elder patients and people who are located in remote areas and facing difficulties to access quality care on time, RPM helps them with timely and easily accessible health care delivery.  Also, people are making the right use of telehealth services for healthcare video visits with their physicians, online consultation, and more.

RELATED: How To Achieve Patient Engagement For Value Based Care Success

2.Wearables For Providing Value-Based Care

Discussing the digital applications, the next big thing – wearable technologies and related applications will probably have a bigger task to carry out in the overall healthcare landscape in 2021. The wearable is guiding and supporting patients with chronic conditions and also those with personal health goals. 

While wearables are now universal for tracking the wellness of patients, later on, they’ll help measure health impartially, recognizing changes in habits that might be demonstrative of a creating condition and transferring this data to healthcare providers. Wearable gadgets and related applications as of now exist to help oversee type 2 diabetes, asthma, arrhythmias, clinical misery, and different issues.

For instance, a few existing wearables have been appeared to help fat, at-risk populations avoid full-blown diabetes by tracking blood glucose measurements and reporting changes to physicians. Wearable EKG sensors like those in the well known Apple Watch have helped get unpredictable heart rhythms in wearers, alarming them (and their physicians) of a potential medical issue — and in any event, saving lives. They can even go about as a cutting edge life-saving system with fall location abilities.

3. Artificial Intelligence (AI) for personal care: 

AI and machine learning platforms have the potential to analyze huge amounts of data to predict patient outcomes, identify essential complications, and provide personalized treatment options.

These collected data help to detect health issues earlier and provide better healthcare for patients. AI-integrated platforms have their own ability to automate regular administrative tasks, such as billing, coding, and appointment reminders, which reduces the workload of healthcare staff and enhances the productivity of overall healthcare practices. 

4. Mobile Health Apps:

mHealth apps enable patients to make additional efforts for the betterment of their health by providing tools for tracking medication, monitoring symptoms, and making efficient communication with healthcare providers.

These apps can collect real-time health data from patients, such as glucose readings, heart rate, and levels of activity per day.

CapMinds Practice Management Solution: Your Key to Healthcare Success

Ready to take your healthcare practice to the next level? CapMinds Healthcare Technology is your partner in achieving operational excellence, enhancing patient care, and ensuring financial health.

Our Practice Management Solution is tailored to meet the unique needs of your practice.

By embracing CapMinds:

• Streamline Operations: Unburden your team with automated administrative tasks, allowing them to prioritize patient care
• Ensure Compliance: We prioritize data security and legal compliance, safeguarding patient information and your practice
• Optimize Finances: Gain control over your finances with comprehensive tracking, revenue optimization, and insurance claim processing
• Elevate Patient Care: Provide an exceptional patient experience
• Data-Driven Decisions: Utilize insights for continuous improvement
• Resource Efficiency: Maximize resource allocation and reduce operational costs

Contact us now to explore the full potential of CapMinds Practice Management Solution. Your patients and your bottom line will thank you.

Don’t miss the chance to revolutionize your practice. Unlock Success with CapMinds Today!