According to a recent survey compiled by the Blue Cross Blue Shield (BCBS) Association, patient-centered and value-based programs generated about $1 billion in savings by reducing costly and wasteful care duplication.
Patient-centered, value-based programs also accounted for $71 billion in spending in 2013 — representing one-in-five dollars in medical spending by the 37 BCBS companies across the nation and an increase of nine percent from 2012.
“It’s only going to go up,” said Justine Handelman, vice president, legislative and regulatory policy, at BCBSA, in a HealthLeaders Media article. “We are really trying to push the move away from fee for service in how we incentivize quality over quantity. This report really illustrates how we’ve been able to hone in on what’s been working and how we can work with public payers and the government to reform the health care system.”
According to the article, Handelman also said that the Blue Cross plans have keyed on four strategies to shift away from fee-for-service:
- Changing how providers are paid to include incentives for delivering better care
- Providing doctors and hospitals with tools and real-time patient data to transform their practices
- Helping consumers to become active in their health care
- Promoting savings by reducing duplicative or unnecessary services and tests.
How can you get prepared and make sure you’re ahead of the curve in the volume to value transition?
Through a series of six online, on-demand courses and live workshops, the Pennsylvania Medical Society (PAMED) is offering CME to ensure Pennsylvania physicians and their health care teams have the skills necessary to succeed in the transition to value-based delivery systems. Learn more about this series and register.