6 strategic imperatives for providers in at-risk environments

Despite what may happen on the Hill, healthcare providers must continue to shift into value-based care business models to stay competitive in the years to come. A recent report from global professional services firm Alvarez & Marsal outlines several survival strategies for providers navigating this change.

"Real organizational transformation toward a value-based model will be difficult for most providers, requiring executive leadership, effective execution, change management and fact-based decision-making," David Gruber, MD, author of the report, managing director and director of research with A&M's Healthcare Industry Group, said in a press release. "However, visionary approaches to change will result in competitive advantage, increased market share and importantly, a more efficient and effective care delivery system."

Here are six strategic imperatives to survive the shift to value over volume, according to Dr. Gruber.

  1. To transform care delivery, focus on the whole patient — including their comorbidities and social determinants of health.
  1. Focus population health management efforts on the 5 to 10 percent of patients who account for the greatest portion of care costs, rather than diffusing efforts over the entire population.
  1. Become fluent in risk management. "Providers will be required to generate similar skills [as payers], though not necessarily to the same degree," the report reads.
  1. Seek actionable data, not big data. This will help inform better decision-making at the point of care.
  1. Align with physicians — mutual trust, collaboration and incentives must be in place to spur behavioral changes.
  1. Make patient engagement a priority — behavioral change among patients is vital to improve the health of populations.

Read the full report here.

 

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