Value-Based Payment Model Popularity Increasing: Report
Within health care systems, value-based care and other quality initiatives have continued to grow in popularity with an estimated 4% annual increase in value-based payments and roughly 7% average annual increase in participation in major clinical registry programs. These results were outlined in health care quality solutions provider Q-Centrix’s new report, Healthcare Quality Industry: Data and Perspectives Annual Report.
“This latest quality industry report suggests growth in value-based payments is expected to continue amid an ever-evolving quality reporting environment,” Q-Centrix CEO Milton Silva-Craig, said in a statement. “As changes in best medical practices and government regulation and policy updates influence annual additions and removals of performance measures, and hospitals’ desires around performance improvement shift, it is critical we gain a clearer understanding of facility involvement with respect to quality reporting. This report helps us to do that.”
The newly released report examined quality program participation and resource needs across three main areas of healthcare quality reporting. The areas of reporting included: regulatory, infection prevention, and clinical registries.
Based on the report findings, it is estimated that the percentage of all care delivery associated with value-based payment is going to reach 22% by the start of 2019. Additionally, the report projects that the number of hospitals submitting data to the top 20 major inpatient clinical registries will grow from 18,432 in 2017 to 23,773 in 2021.
“Not only can we anticipate an increase in quality program participation, we can expect it to grow faster than previously thought,” said Mr Silva-Craig. “Looking at all these factors together, the increasing need for new and more-efficient approaches to quality reporting becomes utterly apparent. Our impression is when hospitals are able to streamline their quality reporting processes, that’s when they have the best chance of getting and staying ahead of their quality reporting demands.”
The complete report can be downloaded here.
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