CHICAGO--(BUSINESS WIRE)--Accretive Health, an independent revenue cycle management and support operations partner, has released a white paper detailing the healthcare industry’s transition to the value-based reimbursement model and its impact on providers in ambulatory and physician practice settings.
The white paper entitled, “The Provider Crossroad to Value-Based Reimbursement,” discusses the inevitable deviation from the traditional fee-for-service compensation model to one that focuses on value-based reimbursement (VBR). The paper suggests that due to the complexities involved, revenue cycle support operations and providers aren’t making the shift fast enough.
Ignoring the transition isn’t an option. The percentage of net patient service revenue tied to VBR was between 5 and 8 percent in 2014. That number is expected to grow to 25 percent by 2017 and to 50 percent by 2020. By not responding, providers will face a significant loss of revenue. To ease the transition, providers need to be transparent and have the technology and processes in place to manage multiple compensation models at once, including the traditional fee-for-service.
The white paper provides best practices for adapting to the new VBR model while simultaneously surviving in the current fee-for-service world. Topics explored in this white paper include:
- Government mandates affecting the industry
- Phases of value-based reimbursement implementation
- Impact of value-based reimbursement and new payer yield
- Barriers to addressing support leakage operations
- How physicians and health systems can achieve success in a VBR model
Ultimately, adapting to a VBR model is time-consuming and costly. Providers should strongly consider partnering with a revenue cycle management team with access to the proper technology, services and processes to allow for a seamless transition. Furthermore, providers should look for a partner with the same mission: quality care and the satisfaction of the providers’ patients.
About Accretive Health
At Accretive Health, our mission is to partner with healthcare communities to serve as a catalyst for a healthier future for all. For more information, visit www.accretivehealth.com.