“All over the world, healthcare systems are struggling with cost recovery despite the hard work of well-intentioned and well-trained healthcare providers. Countless fixes have been tried—error reduction, fraud prevention, practice guidelines enforcement, electronic medical records, etc. Yet none has been able to fulfill their ‘big picture’ promise. As such, healthcare leaders and policy makers needed a fundamentally new way to attack the problem: value-based payment delivery.
According to a new Healthcare Financial Management Association survey, more hospitals and healthcare systems are becoming more capable of functioning in a value-based system, integrating improvements in cost recovery through such practices as screening for Social Security disability eligibility, quick action on claim denials, and assisting patients in getting the right coverage. In a similar survey by Kaufman Hall, it was found that healthcare facilities with a value-based payment program tied to 10 percent or mo