New Report Details Home Healthcare Providers' Thoughts on Value-Based Care
Providers share that value-based care is becoming increasingly prevalent in the sector
June 3, 2022 – Over 200 home-based care professionals were polled on their thoughts about value-based care and the impact it will have on the home health industry. The survey, conducted by Home Health Care News (HHCN) and AlayaCare, is an attempt to get a better insight into how providers feel about the shift and how they are navigating the transition to value-based care.
Throughout the study, providers were asked how they are adjusting to the national rollout of the Home Health Value-Based Purchasing Program, preparing for an increased volume of value-based contracts, and if or how they are finding success with value-based care.
Home Healthcare Providers See Shift to Value-Based Care Coming
While nearly 75% of providers reported that value-based contracts currently account for very little or less than half of their current revenue, that number drops to 35% looking forward to the next 3 to 5 years.
In fact, over 50% of providers state that at least half of their organization’s revenue will be accounted for by value-based models in the next 3 to 5 years. When asked on a scale of 0 to 10, what level of financial impact value-based care will have on the home-based care industry, the average answer was just shy of 7.
These answers show that providers know value-based payments are here to stay and that they will need to shift their practices accordingly to accommodate.
Home Healthcare Providers See Shift to Value-Based Care Coming
While providers know that they will need to update practices and procedures to accurately capture and report data needed in value-based care models, they see benefits.
Over 60% of providers reported better client outcomes as one of the biggest benefits of value-based care in home health. Over 50% of providers also agreed that increased patient satisfaction and reduced costs were two of the biggest benefits of VBP in the home healthcare industry.
To read the entire report from Home Health Care News (HHCN) and AlayaCare, click here.
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