Health care spending in the United States has been rapidly rising in recent years. In fact, in 2015 alone it rose 5.8% to $3.2 trillion.
With the recent shift in the industry toward value-based payments, health insurance companies have begun implementing new technologies and methods to improve patient outcomes and lower overall costs. HealthPayer Intelligence reports on four of the top steps that insurers are utilizing right now to drive better outcomes.
- Adopting health information technology – EHRs are outdated and lack the interoperability of new patient engagement technology. By pushing advancements on this front, payers can protect valuable data and also provide patients a degree of autonomy and control over their own health care.
- Transitioning to alternative payment models – Bundled payments are the next big shift in the movement toward value-based care. Reimbursements based on outcomes and not merely fee-for-service models emphasize quality care; and, better care means fewer trips to the hospital.
- Creating partnerships and sharing data – Health providers should not exist in a vacuum. The lack of interoperability is detrimental to patient outcomes, especially for those seeing multiple providers on their care path.
- Implementing preventive care strategies – Preventive care reduces costs by cutting down on unnecessary emergency room visits, especially for patients with chronic conditions that can be tempered by timely care.
As the value-based mindset continues to settle in, insurers and providers will continue to be on the lookout for new ways to improve patient outcomes. And with the rapid advancements we’ve seen in recent years, it looks like there will be plenty in the coming years!