For centuries, the healthcare reimbursement system in the U.S. has been run on a fee-for-service basis, in which providers are paid for the services they deliver. But in recent years, this model has been evolving, with many healthcare professionals calling for a move toward a more value-based approach. This proposes a switch in the incentive, where the goal is to provide a high-quality service at the lowest possible cost. While change is happening as we speak, there’s still a long way to go before the reform is complete.
The current system
The current healthcare reimbursement model incentivizes utilization at a high rate. The patient, or their third-party payers, are charged for each visit to see a doctor, each test carried out, and each procedure, while physicians are encouraged to see large numbers of patients. As a result, these patients are receiving services that they don’t necessarily need, and providers are paid regardless of the clinical outcome.
The shift from volume to value
Despite the longevity of the current reimbursement model, more and more issues are emerging, sparking concern for its sustainability in modern America. There’s a growing need to find a new universal model that reimburses quality of care and value, rather than just production.
Movement is already happening across the U.S. Congress is beginning to change the way money is spent through value-based arrangements, and a new focus on becoming the highest quality providers possible is being embraced by practitioners. Some companies are even beginning to implement their own value-based care models, but for the most part, institutions are still in the process of considering how they will be able to adapt to a new model.
So what is the Eccles School doing to help?
Our mission is to shape a new generation of leaders. Leaders who will go on to develop and implement innovative solutions to healthcare’s most pressing issues, like the move toward value-based care.
We have developed an MHA that’s responsive to what’s going on in the world, and plugged in to the issues of the moment. Our program provides a 360-degree view of the health industry, covering topics from accounting and economics, to quality of care and patient populations. We offer courses on revenue cycle and third-party payer systems, providing students with a thorough knowledge of the U.S. reimbursement system. And we focus on developing the types of leadership skills in our students that will prove most effective moving forward.
The key to our success lies with our faculty, and the network of healthcare institutions we’ve spent years building up. Our students are taught by professionals with first-hand industry expertise, as well as an abundance of research knowledge. They will leave us ready to lead and ready to make change.
We have a chance to innovate and to shape the future in a way that will benefit society for years to come. Are you ready for the challenge?
Doers wanted.
