Dr. Joe Smith Discusses the State of Value-Based Healthcare at Medical Economics

In a guest blog post published at Medical Economics, Reflexion Health President and CEO Dr. Joe Smith has examined “what’s working” and “what isn’t” about the healthcare industry’s ongoing shift to value-based care — and what may be in store in the years to come.

“In every other aspect of our lives we look for value, so the idea of holding healthcare spending to a similar standard is neither novel nor contentious,” writes Dr. Smith. “The challenge is how to execute this idea,” given that the American healthcare system “has long rewarded prestige, complexity, effort, and volume over value.“

But even as he notes that the implementation of value-based healthcare has been slowed by “friction and inertia,“ Dr. Smith points out that this state of affairs “can be overcome with the cost savings and aligned financial value created in a bundled payment environment.” He cites the example of a a group of “forward-looking surgeons in North Carolina” who have successfully aligned that payment mechanism “with their goals of providing state-of-the-art care, obtaining excellent outcomes for patients, and driving efficiencies in the provision of such care that also positively contributes to their profitability.”