More providers are capable of taking on increased payment risk, according to a survey of 170 hospital and health system senior finance executives completed by Navigant/HFMA.
According to the survey, 72 percent of executives said they can take on increased risk and plan to do so in the next one to three years. Contracts with commercial payers are the most popular form of risk that surveyed executives said they plan to participate in, with 64 percent of respondents saying they would assume risk under commercial payer contracts in the near future. Fifty-seven percent said they plan to take on risk under Medicare contracting models, while 51 percent said they would assume risk under Medicare Advantage plans.
Notably, nearly half — 44 percent — of respondents said their hospital or health system is already part of a provider-sponsored health plan or plans to launch one in the future. As relationships with payers deepen, 62 percent of senior finance executives said they plan to increase investments in IT capabilities, while 57 percent said they plan investments in physician engagement and 56 percent plan member engagement investments.
Providers who said they aren't pursuing risk-based contracts listed three main deterrents: lack of local market demand (56 percent), lack of payer partnership opportunities (26 percent) and lack of needed infrastructure (22 percent).
To view the full survey results, click here.
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