Value-Based Care Requires Automated Information Exchange
By Greg Bengel, contributing writer
Recent studies suggest a gap in operational readiness as providers move toward value-based care while lacking fully-automated capabilities
Two recently released studies from health information network Availity indicate that providers and health plans alike are in need of automated information exchanges. As the studies indicate, health plans and providers expect that their participation in value-based care programs will more than triple in the next three to five years. Also, more than 90 percent survey-takers in both groups are in agreement that automating the information exchange is the only way for value-based care to be successful.
Unfortunately, as Health IT Outcomes reports, only a small percentage of providers and plans are operationally ready, with automated capabilities in place. This points to serious risk for market disruption, as “growth expectations and operational readiness may not be aligned.”
The push toward value-based care is in part a reflection of healthcare reform, including harsher reimbursement rules under the Affordable Care Act for providers that do not stick to procedures that produce positive outcomes for patients. An interesting article and video from Transforming Health takes a deeper look at this move toward value-based care.
The Availity studies are Provider Readiness to Support Value-Based Payment Models report, and its companion health plan research. In addition to these pieces, Availity released an Implications and Recommendations report, which compares the results of the two studies and offers guidance for providers and health plans in the face of the results. Clicking here allows you to view all three reports.
Russ Thomas, Availity CEO sheds light on the purpose of the research. “We embarked on this research to identify the information-related challenges the market may encounter as it transitions to value-based care models,” he explains. “What we learned is that both health plans and providers have aggressive plans to migrate to value-based care arrangements, but the tools needed to manage the informational components of the programs efficiently and effectively have not been broadly implemented.”
According to Healthcare Finance News, “the market for medical automation technology is forecast to grow from $13.1 billion this year to $23.2 billion in 2014, according to BCC Research.The report, Medical Automation Technologies, Products and Markets, pegs the compound annual growth rate (CAGR) at 12.2 percent.”