Successful transitions to value-based reimbursement address how the change will affect workforce, according to a discussion led by four executives at the 2018 Open Minds Performance Management Institute.
The executives included James Stewart, president and CEO at Winchester, Va.-based Grafton Integrated Health Network; Joseph Rutherford, CEO at Gracepoint in Tampa, Fla.; John Young, executive director at Rockbridge Area Community Services in Lexington, Va.; and April Lott, president and CEO of Directions for Living in Clearwater, Fla. They urged participants to put energy into finding the right team in the move toward value-based reimbursement.
For instance, they discussed the necessity of having an entrepreneurial, forward-looking and risk-taking executive team. One speaker, Ms. Lott, explained how the executive team at her organization isn't afraid to tell her what to do, instead of waiting on her lead, according to Open Minds.
Since transitioning to value-based reimbursement requires teams to break from their siloed roles, leaders need to educate staff about outcomes-based payment models, the executives noted. Ms. Lott said her organization created a training program for hired staff focused on how the entire company works, instead of on each new hire's specific role.
This training is only successful if staff are rewarded and not overburdened, the executives said. Mr. Rutherford noted his organization launched a performance-based payment system at Gracepoint to address its 40 percent no-show rate. No-show rates dropped to between 18 and 19 percent after the organization introduced a $1,500 quarterly bonus based on productivity, Open Minds reports.