If you missed the live 10/12 Whitehat Communications event, watch the recording to hear Matt Modleski, Orchard’s Executive VP of Corporate & Business Development, explain the lab’s contribution to value-based contracts.
As our healthcare system continues to transition away from fee-for-service (FFS) payments to value-based models, healthcare organizations are entering into value-based contracts with payers that incentivize improved patient outcomes and conscientious spending. Laboratory data is an often overlooked source of information that can be valuable in contract negotiation and patient risk documentation.
Alongside this change, laboratories are redefining their value proposition to ensure their services align with their organization’s value-based goals. One of the ways that a laboratory increases its value to patients and its parent healthcare organization is by providing data that supports organizational efforts in value-based contracts (VBCs). The laboratory can extract and present key data that identifies and measures the health of chronically-ill patients for quality metrics required by value-based contracts.
In the webinar, Matt explains healthcare’s payment model progression as it relates to value-based contracts and defines the value of laboratory data in proper documentation of patient status and risk. Medicare Advantage risk-based contracts are discussed, including an introduction to code sets that are used to predict healthcare spending based on patient diagnoses, as well as quality measurement systems that are used to measure quality of care. A key takeaway for attendees is the laboratory’s “value-add” of contributing data to VBC performance, along with specific relevant examples.
Click the image below to watch the webinar: “Laboratory Data Is Essential for Your Value-based Contracts: Here’s Why & How”.