The US healthcare system spends more per citizen on healthcare than any other nation yet renders some of the worst patient health outcomes as reiterated by a January 2023 Issue Brief published by The Commonwealth Fund. As medicine and technology advanced in the US, the administrative and reimbursement support systems did not. This left our national healthcare system woefully behind with outdated practices and payment methodologies.
Value-based care seeks to reverse these trends by reimbursing healthcare provider organizations for wellness versus treating disease. Payment incentives prioritize quality outcomes over high-cost services and acute care admissions. And traditional fee-for-service models are replaced with at-risk, value-based contracts.