The letter also offered a policy blueprint featuring a plan of action based on several evidence-based points.
Here’s what you should know.
1. DRIVE Health Initiative is urging the Trump administration and HHS to focus its policies on the following three elements:
- Consumer engagement and appropriate financial incentives — including the use of health savings accounts in high deductible plans, lower cost-sharing for chronic care management services and more flexible use of Medicare-facing value-based care.
- Alternate provider payment models — including prospectively-set payments for bundles, larger financial incentives for providers accepting two-sided financial risks, greater incentives for hospitals providing high-quality care and the increased utilization of Medicare ACOs and telehealth services.
- Transparency and performance measures — including stronger standardized outcome measures, the creation of aggregated databases including both payer and provider data and heightened interoperability requirements for EHRs and patient-generated data.
2. The Pacific Business Group on Health and The ERISA Industry Committee started the initiative.
3. Pacific Business Group on Health President and CEO David Lansky said in a release, “It’s absolutely critical for the health of Americans and our economy that value-based care is quickly embedded in the healthcare system.
Policy makers must focus on what works to achieve these goals, and we know that value-based care helps to drive down costs and improve patient outcomes.”
4. The initiative is advocating for stronger value-based measures because it feels the fee-for-service model is continuing to increase healthcare spending, which already outpaces the national gross domestic product and inflation.
More articles on coding, billing and collections:
Florida to truncate Medicaid payments by $250M
Ohio House Republicans plan to kill state’s Medicaid expansion: 5 key notes
The 4 secrets to scaling your business
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.