Americans like value
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Americans are largely on board with the concept of value-based care, but there's one thing they don't seem to like that much: the term itself, which they either don't resonate with or don't understand.
That's according to new research from United States of Care, which found that 64% of the 1,000 people surveyed preferred value-based care to fee-for-service models.
The survey also utilized an artificial intelligence-powered feedback collection platform, dubbed ReMesh, to glean deeper insights from about 100 survey participants. Eighty-nine percent of the ReMesh participants preferred value-based care.
WHAT'S THE IMPACT
More than half of the respondents (59%) felt positively about the term "value-based care," but even those with a favorable opinion of the term preferred other labels, such as "patient-first care" and "quality-focused care." Many people associated "value-based care" with low quality, including about 75% of the ReMesh participants.
Beyond the term itself, about half of the respondents were skeptical about the practical application of a value-based framework; many worried about how costs would be affected by doctors seeing fewer patients, and more than half were worried about wait times, figuring they might be longer due to doctors spending more time with their patients.
One trend among the findings is that people tend to prefer a healthcare system that puts the patient experience over quantity – one of value-based care's hallmarks – and that the health system is too large and fragmented.
They also decried long wait times and the perception that financially well-off Americans are placed at the front of the line for appointments and quality care.
United States of Care recommended simplifying the messaging surrounding value-based care, and staying focused on improving patients' care experiences.
Bridging the communications gap between experts and the real world is a necessary component to the long-term success of a patient-first care approach, researchers said. The result is a more person-focused and personalized healthcare system, with an emphasis on quality over quantity.
THE LARGER TREND
A 2022 report from the Medical Group Management Association found that value-based care still only accounts for a small portion of medical revenue in most specialties.
Data from the survey found that revenue from value-based contracts accounted for 6.74% of total medical revenue in primary care specialties, 5.54% in surgical specialties and 14.74% in nonsurgical specialties.
Across all practices, the median revenue amount from value-based contracts was $30,922 per provider.
A JAMA Network study published this year found that value-based Medicare Advantage models see better outcomes and better efficiency for patients, both in general and across specific metrics such as avoidable emergency department visits and readmissions.
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