Posted December 9, 2022
The shift toward value-based care and away from fee-for-service payment models providers in senior care are still struggling without much guidance, especially when it comes to working with payers and other third-party stakeholders.
They are not the easiest relationships to cultivate, they’re learning.
But creating relationships based on trust, understanding the long road to scaling value-based models and finding new avenues to value are some of the keys to a successful partnership, according to those with experience.
“When making these value-based arrangements, the providers have to come to the table willing to do something differently,” Gwen Guillotte, chief revenue officer of LHC Group Inc. (Nasdaq: LHCG), said during a panel at Aging Media Network’s Continuum conference event last week. “The starting point has to be that we’re at least making money on the base payment. The incentive has to be meaningful to the extent that the incentives can align with things that we’re already doing, because it allows us to scale our processes and our systems to accommodate that. Those are some of the factors that come into play: scale, meaningful financial risk/reward, and an acknowledgment of when processes have to change, what it takes to get that accomplished.”
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