How the Evolution of Payment Models Has Led to Improving American Healthcare
As we learned in Value Based Care Makes for Better Caregivers , while the old-style “fee-for-service” payment model promoted quantity of services, federal officials have planned numerous compensation programs to reward healthcare providers for the excellence of care they provide to patients. In the past, Providers or Professional Caregivers have not trusted CMS or the health insurance companies. Today, more and more Providers are partnering with payers and CMS in order to improve the health of their patients. VBC helps advance, not just the triple aim of healthcare, but it has also expanded to include the quadruple aim of healthcare today. ‘Triple Aim’ includes improved patient experience, improving population health, and cost-effectiveness in healthcare. The ‘Quadruple Aim’ adds improved work-life balance of Providers and their staffs as well. Like everyone else, professional caregivers get burned out and they need the improved, more efficient workflow of value-bas...