Sam Hazen, CEO of HCA Healthcare, called value-based care an "elusive concept" while moderating a panel at the Nashville Health Care Council's 2024 Wall Street Perspective on the Healthcare Industry event, the Nashville Business Journal reported Feb. 12.
The CEO of the Nashville, Tenn.-based for-profit health system said he is not disparaging value-based care, but said he is "curious on the thought process that goes on in that," according to the report. Mr. Hazen said that the model offloads the risk to a private entity.
"That entity is now responsible for the cost and the outcomes associated with that," he said. "It's been a difficulty for a lot of organizations to accomplish their objectives and ultimately scale."
Gary Taylor, managing director of healthcare facilities and managed care for TD Cowen, said the premise of value-based care is attractive, according to the report. Brian Tanquilut, healthcare services equity research analyst for Jefferies, said there are a lot of growth opportunities.
On the other end of the spectrum, Whit Mayo, senior managing director of healthcare providers and managed care for Leerink Partners, said there is valid criticism of the model.
"Why is it good business to take risks on things you can't control?" Mr. Mayo said, according to the report. "You can't control when they [patients] go to specialists … when they access engaged outpatient points. That's terrible business."
Several health system executives spoke to Becker's last year about the shift toward value-based care. Among them is Paul Hinchey, MD, COO of Cleveland-based University Hospitals, who said the health system fully embraces the move to value in healthcare.
"Crucial to this goal is creating an effective system of care that provides patients with a wide range of outpatient access options, effectively meeting them on their own terms," he said.
Last year, Altamonte Springs, Fla.-based AdventHealth partnered with value-based healthcare startup Wellvana Health to redesign its primary care strategy.
Bryan Stiltz, CEO of AdventHealth's primary care network, said the redesign aims to offer a more balanced approach to health driven not just by sick care, but also wellness and prevention.
"That starts with integrated, accessible and affordable primary care," he said. "Guiding our high-performing network through the transition to full risk requires a dependable and innovative partner. Wellvana has the skilled team, actionable technology and customized delivery model to help us provide whole-person care to more people."