With inflating costs of hospital bills, admission fees and medical care, the patient population is left anxious. These challenges have led patients to seek better care at reduced costs through alternative approaches. This is where home healthcare has set a strong foothold by being more flexible and cost-effective.
A step towards value-based care
The conversion of Medicare’s payment methodology to the patient-driven groupings model (PDGM). Focusing on more than 400 case mix groups, PDGM eliminates use of “therapy thresholds” to determine payments and changes the payment unit to 30-day periods of care. This change moves Medicare towards a more value-based payment system in home health.
Due to this conversion, many big players are developing and implementing new strategies that focus on home healthcare of patience. These strategies completely rely on hospitals being more proactive and working side-by-side with families for taking care of patients at home.
Playing the Right Cards
Many organizations with a common vision are partnering up to share their industry experiences. Together they are working on designingand operating a value-based care delivery model so that patients can manage their health at every stage of life, including home health. These care models are fueled with data, clinically-driven and patient-centric thus eliminating the barriers that fragment care.That being said, the healthcare industry is shifting from fee-for-service to a fee-for-value model. Right now many eminent healthcare companies are indulging in partnerships and have initiated the movement towards value-based care models. Experts have realized that a change is required and this awareness is gaining traction.
The cultural transformation is one of the most pressing concerns in home health today and leaders must guide there organization through it. Home health care agencies must focus on patient engagement, providing low-cost service and high standards of value-based care.
