The Future of Value-Based Healthcare
The U.S. spends far more on healthcare than any other country and yet ranks 12th in life expectancy among the 12 wealthiest industrialized countries. According to a report from the Global Burden of Disease Health Financing Collaborator Network, in 2016, the U.S. spent $3.2 trillion on healthcare - 17.7 percent of its gross domestic product.
A major component of the Affordable Care Act (ACA) was to change the way hospitals are paid, moving from a fee-for-service model based on volume to an outcomes model based on value. The goal of this new value based care model is to lower healthcare costs and improve quality and outcomes for patients. Despite bipartisan support for value-based care, under President Trump and a Republican controlled Congress, the future of the ACA is uncertain.
What is the future of value-based care? How can hospitals and physicians use technology infrastructure - including electronic medial records (EMRs) and health information exchanges (HIEs) - effectively to ensure the best outcome for patients?
In this forum, Farzad Mostashari, M.D., ScM, Co-Founder and CEO at Aledade, Inc. and the former National Coordinator for Health Information Technology in the U.S. Department of Health and Human Services, explains the future of value transformation in healthcare.