A survey in Physicians Practice stated 46 percent of providers are unsure how shifting towards a value-based system will impact their revenue cycles, RevCycle Intelligence reports.
Here's what you should know.
1. Surveyors recorded 1,124 responses. The results are as follows:
- 12.5 percent believe value-based care would be good for their practice
- 29.4 percent said it would be bad for their practice
- 11.7 percent were undetermined what benefit value-based systems would have
- 46.4 percent were unsure of its effect
2. The survey asked providers what percent of their revenue would consist of fee-for-service contracts:
- 25.7 percent said none
- 35 percent said 1 percent to 10 percent
- 16.5 percent said 11 percent to 25 percent
- 9.7 percent said 26 percent to 50 percent
- 13.1 percent said more than 50 percent
3. The survey also asked providers how prepared they were for Medicare Access and CHIP Reauthorization Act of 2015:
- Already mostly value-based — 15.9 percent
- Some value-based care but are mostly fee-for-service — 20.4 percent
- Preparing to switch to value-based care —13.1 percent
- Not prepared for MACRA — 31 percent
- Don't know what MACRA is — 19.6 percent