HIMSS cost accounting survey: Provider preparedness for value varies by region

HIMSS 2016 Cost Accounting Survey provides a snapshot of the challenges and opportunities healthcare providers face as they prepare for alternative and value-based payment models.

The study surveyed 102 healthcare executives and finance professionals from provider organizations across the U.S. about their experiences so far in preparing for value-based payment models.

Below are six findings.

1. Respondents indicated the following as the top areas for improvement in transitioning to value-based payment models: tools to track and evaluate quality of care, better communication between disparate providers, and consistent definition of quality by disease type.

2. Of respondents, 45 percent are currently participating in some form of alternative payment model.

3. Only 3 percent of respondents felt their organization was highly prepared for the transition to value-based payment models.

4. Providers that serve exclusively urban markets were more likely to participate in alternate payment models than those serving exclusively rural markets. Around 70 percent of providers that serve both urban and rural markets reported working with alternative payment plans.

5. Approximately 33 percent of respondents have automated processes for determining the price of healthcare services.

6. Only 39 percent of providers said they regularly review cost-of-delivery estimates to ensure costs are accurate and current.

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