As we’ve discussed, provider organizations will continue to have a sizeable fee-for-service business for the foreseeable future. But to adopt more risk-based payment, providers must first prove to payers that they’re ready for more financial risk. This means providers must make investments in value-based care before their finances justify them.
To navigate this tension, we always recommend starting with ‘no-regrets’ initiatives: those with a compelling business case under both volume- and value-based payment environments. In the near term, they support providers in delivering high-quality, convenient care to earn and retain patient loyalty. Thinking longer term, these same investments can help providers identify their highest-risk patients and target dedicated services to the patients who most need them.
These aren’t new initiatives. In fact, they likely already live somewhere on your strategic plan. But risk changes the strategic calculus for each.