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VBCR - August 2015, Volume 4, No 4 - Value Propositions

With all the attention being paid to the coming changes in payment models, most healthcare providers are aware that adapting to value-based payments presents significant challenges. During a May 13 webcast titled Alternative Payment Arrangements—Implications for the Finance Function, KPMG LLP conducted a survey of 164 participants who self-identified as being associated with a healthcare provider.

The survey indicates that healthcare finance departments are beginning to respond to these changes. Although 13% said their department was “undeveloped” for risk management and new payment mechanisms, and 4% said senior management remained “uninvolved” in addressing alternate payment plans, 61% of respondents said their finance department was selecting tools and analyzing procedures to prepare for the changes. But only 15% said their organization’s capabilities were “very sophisticated.”

Two significant tactics were identified to help physicians adjust to the new reimbursement arrangements: 20% of respondents described measuring risk and adjusting fees accordingly, and 23% reported analyzing and using data to improve efficiency and quality of care. Acknowledging the importance of updating data collection and analytic tools, Joe Kuehn, a partner at KPMG, said that improving these and other capabilities was necessary to “have a better sense of the true costs of care, grasp the most relevant quality measures to target, and monitor provider and patient performance.” KPMG website. June 30, 2015.

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Last modified: August 26, 2015
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