Health system executives predict the shift to value-based payment models will continue to increase this year, according to a survey conducted by The Health Management Academy for Lumeris.
The recently released survey was conducted in May and August among 25 healthcare system executives representing organizations that own or operate 280 hospitals.
Five survey findings:
1. Fee-for-service payments still account for 78 percent of care delivery among respondents, although that has decreased five percentage points over the last year.
2. Only 22 percent of care delivery payments are value-based. However, that has increased five percentage points over the last year, and respondents expect to reach 25 percent this year.
3. In the third quarter of 2018, 46 percent of respondents said their health system's pace of change toward value-based payment is moving quickly or very quickly, up 14 percentage points from the second quarter of 2018.
4. Sixty-two percent of respondents indicated plans to take on additional risk in the next 12 months. Common methods for additional risk assumption were ACOs (46 percent), Medicare Advantage (31 percent), and bundled payments (23 percent).
5. Half of respondents said their health system understands the total cost of care for Medicare patients in specific value-based payment arrangements well or very well. However, many respondents indicated that understanding the cost of care for other payers, such as Medicaid and private commercial payers, is more difficult.
Read more about the survey here.
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