What is Value-Based Care?
Value-based care is more than just a buzzword; it’s a model that’s transforming the way doctors across all specialties deliver care to their patients.
The value-based care model gives providers an opportunity to commit to a higher standard of care, and in the process, make strides toward health equity and treating the whole patient. Value-based care also benefits providers, allowing them to be reimbursed according to the quality of care they deliver.
If you’re still operating in a fee-for-service model, you’re missing out on several key benefits for your practice and for the patients you serve. In this article, we’ll explore three of the most significant advantages of value-based care for cardiologists, and explain how you can seamlessly transition your practice to this new model.
3 Benefits of Transitioning to Value-Based Care for Cardiology
1. Decreased Stress and Improved Lifestyle Outside of Work
Under traditional fee-for-service models, cardiologists are compensated based on the quantity of services they deliver, rather than the quality of care. Not only does this de-incentivize improved patient outcomes, but it also leads to increased stress and overwhelming workloads for the provider.
By transitioning to a value-based care model, cardiologists can begin to earn compensation based on the thing that matters most: the quality of care they deliver.
2. Increased Time with Patients
Many providers find that the transition to value-based care also frees them up to spend more time with each individual patient.
The fee-for-service model doesn’t account for time spent on things like counseling or discussing social determinants of health, even though those patient interactions can directly impact care outcomes.
By prioritizing quality over quantity, value-based care makes it easier for providers to invest time in patients, knowing that they’ll be compensated for their efforts.
3. Evidence-Based Insights and Contracting Support When Partnering with Chamber
The transition to value-based care can feel daunting, but cardiologists don’t need to manage this shift on their own! Chamber provides a free, tech-enabled platform that helps cardiologists succeed at value-based care with innovative technology, care team infrastructure, and contracting support.
Chamber’s technology seamlessly integrates into your current operating systems to provide real-time insights, task management, and more. Cardiologists can easily see their patients’ risk scores, monitor hospital admission statuses, review upcoming appointments, and communicate with the rest of the patient’s care team.
Chamber also provides evidence-based clinical guidelines, automated risk assessments, medication management, and more.
With Chamber’s support, cardiologists can seamlessly transition to value-based care and see their patient outcomes (and in turn, their revenue) improve in the process.
If you’d like to learn more about bringing Chamber’s solution to your cardiology practice, we’d love to connect. Fill out this form today to get in touch!
