That's what we wanted to know when the American Academy of Family Physicians (AAFP) conducted a study of its membership on behalf of Humana. More than 600 family physicians participated in the study, sharing their perceptions about value-based payment models. Key findings from the study are available here.
Among the interesting findings was the fact that even though family physicians know about value-based payment models, they aren't moving quickly because they don't fully understand them. Many don't understand how they work or see the value for them or their patients.
Considering that we're less than two years from the U.S. Department of Health and Human Services' plan3 to tie half of all traditional or fee-for-service Medicare payments to value-based payment models by 2018, time is short.
It's our shared responsibility – both as physicians and health plans – to champion the success stories we see in value-based care today, because the journey is worth it. At Humana, one million Medicare Advantage members being treated by physicians in value-based reimbursements experienced fewer emergency room visits and fewer inpatient admits than those seen by physicians in standard Medicare Advantage arrangements. Plus, they're getting more screenings...
This positive movement in health outcomes wouldn't have been possible without physicians and health plans coming together. Sure, it's no secret we have challenges to work out. But the health care industry will only progress if we leave the past behind and work together to build a healthier, more sustainable future. It's the future our patients and members deserve.
Roy Beveridge, M.D. Senior Vice President and Chief Medical Officer