- Advertisement -
Sunday, April 18, 2021
Home Article Adapting to Value-Based Home Healthcare

Adapting to Value-Based Home Healthcare

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.

Must Read

Court Square Group and 5thPort Announce Life Science Industry Partnership

Partnership helps life science companies streamline clinical trials and improve outcomes Springfield, MA, April 13, 2021–Court Square Group, Inc., provider of Audit Ready Compliant Cloud™...

How COVID-19 Spurred Overdue Innovations in Healthcare IT

By Wayne Embree, Executive Vice President, Investments & Venture Acceleration at Rev1 Ventures, the startup studio that combines capital and strategic services to help startups...

ELMC Risk Solutions: Shining A Ray Of Transparency Into the Healthcare Ecosystem

One of the main challenges within thehealthcare industry – finding the right balance between drug discovery and drug pricing ultimately makes or breaks the...

Wachter Healthcare Solutions: Enhancing Patient Safety

Given the unpredictable nature ofrecovery, healthcare facilities usually employ costly 1:1 patient sitters to monitor patients against fall prevention, behavioral health risk, and tampering...

Related News

Court Square Group and 5thPort Announce Life Science Industry Partnership

Partnership helps life science companies streamline clinical trials and improve outcomes Springfield, MA, April 13, 2021–Court Square Group, Inc., provider of Audit Ready Compliant Cloud™...

How COVID-19 Spurred Overdue Innovations in Healthcare IT

By Wayne Embree, Executive Vice President, Investments & Venture Acceleration at Rev1 Ventures, the startup studio that combines capital and strategic services to help startups...

ELMC Risk Solutions: Shining A Ray Of Transparency Into the Healthcare Ecosystem

One of the main challenges within thehealthcare industry – finding the right balance between drug discovery and drug pricing ultimately makes or breaks the...

Wachter Healthcare Solutions: Enhancing Patient Safety

Given the unpredictable nature ofrecovery, healthcare facilities usually employ costly 1:1 patient sitters to monitor patients against fall prevention, behavioral health risk, and tampering...

Cerner Corporation: Reoptimizing Next-Gen Healthcare Outcomes

Revenue Cycle Management in the healthcare sector is a process that needs supervision. This needs special support and well-equipped staff because it is an...