Understanding Cost of Care to Drive Value-Based Payment Arrangements – Cost of Care Part 3

Description: It is important for healthcare providers to understand the cost of the services they provide and compare that to reimbursement rates. In value-based care arrangements, they should also anticipate the impact of their care models on patient outcomes and resulting incentive payments. This information can inform decisions to modify existing care models and potentially introduce new approaches to patient care. If grants are used to cover start-up costs of new services, financial proforma should demonstrate that they are financially sustainable once those grants expire. Having a clear understanding of the cost of care is essential when negotiating contracts with payers. The information can inform decisions to enter into certain value-based payment agreements.

Facilitators: Art Jones, MD & Chuck Weis, MBA, CPA

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