Driving Your Financial Performance
Nick Gettas, MD - Chief Medical Officer of CareAllies
Our February Valuable Insights webinar asked 'Who's Driving the Bus?' on financial performance.
Evaluating your next stop
Beckie Croes, senior vice president of provider engagement for CareAllies, led a discussion on the top drivers of financial performance for independent physicians. Drawing from her vast experience in incentive agreement structures, contracting strategies, and provider alignment strategies, Beckie offered insight on topics including:
- The traditional health care model
- The industry's response to shifts in the model
- How providers should respond to the evolved model
Beckie, who we learned also had experience as a bus driver in college, narrated the discussion from the lens of a bus journey. "Think about being on a bus together and the route our bus is taking on our journey toward a value-based model destination," she encouraged participants. "There are stops along the way where providers can get off and get back on when they're ready."
The stops represent a practice's transition toward value, beginning with programs that represent the industry norm (fee-for-service, quality incentives, medical home) and evolving to best-in-class programs (shared savings, capitation). As providers progress along the route, they continue transitioning from volume to quality for better care, more rewards and reduced cost.
Evaluating which stop an organization may want to choose begins with understanding where our provider partner is in their transition to value and how we can help make their continued transformation easier. Before choosing to disembark, providers should consider key differentiators and success factors that will help them be successful at a specific stop along our value-based journey route.
So the answer to our question - Who's driving the bus? - is YOU! The key to success is aligning like-minded physicians and community resources from all parts of the care continuum to move in the same direction with aligned incentives along our common bus route toward value-based care.
As you take the wheel, remember that the journey toward value is an ongoing evolution with a variety of factors that independent physicians must consider, including sustaining their business so they may continue caring for patients in their community. We're proud to support you in that journey.
Our next webinar - 'Upping Your Outpatient Management Game'- will focus on decreasing unnecessary emergency room visits and hospitalizations. Nicholas Gettas, M.D., senior vice president and chief medical officer of CareAllies, will offer insights on drivers of medical cost, outpatient costs, and physician-controllable parameters. Register now to join the discussion on Thursday, March 22, 2018, at 1 p.m. Eastern Standard Time.
Missed the 'Who's driving the bus' webinar? Watch the replay!
Valuable Insights is a complimentary virtual education series designed to help independent physicians navigate the challenges of today's health care environment. Browse the full Valuable Insights schedule, and sign up to receive notifications about future events. Valuable Insights webinars will be hosted monthly, typically the fourth Thursday from 1-2 pm Eastern, in 2018. Attendance is free. Registration is required. Please note that schedule is subject to change.