Value-based care is quickly becoming the new norm throughout the healthcare industry. The push to transition to a more patient-oriented approach has been a rocky one so far though. Not only does the exact meaning of value-based care seem elusive, but there still is no definitive plan for rolling out new systems or payment structures. While there are plenty of things that appear to be changing, one factor still remains concrete: capturing charges at the point-of-care. Charge capture and value-based care go hand-in-hand, as many charge capture solutions offer the ability to track quality measures. Aligning charge capture and value-based care isn't as complex as it initially seems, but explaining the concept of value-based care first is key to understanding how the two work together.
Explaining Value-Based Care
So, what exactly is value-based care? The term, and subsequent attempts at explaining, still causes confusion for many. To put it plainly though, value-based care is simply the idea and practice of improving quality and outcomes for patients. In essence, it's the concept of quality over quantity. Where doctors might make brief check-ins on patients, they're now encouraged to be much more thorough through incentivized payment programs. Not only that, but doctors run the risk of being penalized financially should the quality of care be sub-par. Further explanation on value-based programs and the long-term strategy behind it can be found in CMS's quality strategy, which places a focus on improving how health care is delivered and paid for.
The Ongoing Need for Charge Capture
Despite value-based care recently occupying the brunt of conversations, there is still a need to capture charges at the point-of-care. Patients are still paying a fee-for-service for each visit conducted by the doctor, and charge capture helps ensure those meetings are properly logged. It's during these encounters that patient data is retrieved, helping to determine which processes do or do not work. This directly leads to the creation of the patient care path, or a task-oriented care plan that focuses on the patient's expected clinical course.
Ensuring Lasting Quality
Combining a charge capture solution and value-based care doesn't need to be a complicated outing. It's fairly easy to see how one benefits the other in ensuring maximization of revenue and quality care. Charge capture can help maximize a doctor's earnings while also ensuring the quality of care is meeting the necessary standards. Additionally, a charge capture solution helps reinforce notes, key patient info., and metrics to track quality. This leads to doctors meeting the incentives laid out by value-based care programs, maximizing their revenue. Perhaps most importantly, charge capture lines up with MACRA guidelines, further ensuring quality measures are being met.