The Health Care Payment Learning and Action Network reported 29 percent or $354.5 billion of all healthcare payments made in 2016 were through alternative payment models.
Here's what you should know:
1. Alternate payments increased 6 percent from 2015.
2. LAN analyzed data from 80-plus healthcare spending-based participants
3. LAN said the healthcare industry progressed towards the organization's goal of linking 50 percent of all payments to alternative payment models by the end of 2018.
4. Fee-for-service payments are steadily dropping making up only 43 percent of payments in 2016. That number is down from 62 percent in 2015. Value-based payments now represent 28 percent of all payments in 2016.