The Evolution of Value Based Care: Key Insights:
Below are insights from Debra Finnel, CEO of ilumed and Richard Park, MD, CEO of Rendr, Co-Founder and Managing Partner , Ascend Partners and Founder, CityMD during the virtual NYC Health Business Leaders forum discussing the evolution of value based care.
The pandemic has had a huge impact on virtual healthcare and the quality of care. These changes are contributing in both positive and negative ways towards the effort for value-based care in healthcare.
“One of the positive things that has come out of the pandemic is that we have been laser-focused on the senior population. They had been slow to embrace telehealth, but I think COVID forced people to at least try it. It’s not a replacement for an in-person visit with your PCP, but when you’re tightly managing your chronically ill folks, it’s a useful tool.
I also think that more aggressive care in the home is going to explode over the next 10 years. Meeting patients where they’re at to take good care of them is another big trend to come out of the pandemic.” – Debra Finnel.
There is more competition between traditional payers and newer entrants into the market for a limited pool of lives. Individuals are influenced by many factors in selecting a health plan – and healthcare providers are playing a larger role in these enrollment decisions.
“If providers create a model with great care, then people will flock to it, and you can make the economics work… I am a big believer in hyper segmentation and matching – almost like a bespoke model to the care. That’s why I think Chen Med, Oak Street and Iora are all great and have something to add…and Oscar!” – Richard Park, MD