Value-based pay models have not yet hit their full potential, according to a new study from Healthcare Financial Management Association, Leavitt Partners and McManis Consulting, which found the payment strategy has fallen short of solid cost savings and boosting clinical quality outcomes in the market.
According to an American Journal of Managed Care report, the study pulled commercial data from 2012-14 and Medicare data from 2007-15 for two analyses of quantitative data.
By analyzing the performance of accountable care organizations and other population-based value-based payment models, researchers found, among other things:
- Value-based pay models have yet to have a marked impact on curbing total care costs;
- Alternative value-based payment models could have different effects on different patient populations; and
- Type of competition, instead of the amount of competition, could play a key role in value-based models.