Survey: Value-based care shift is C-suite leaders' top strategic concern
- The shift to value-based care will transform healthcare companies’ business strategies in the coming years, a new Lazard survey of global industry leaders suggests.
- Adoption of value-based or risk-sharing pricing models will be disruptive over the next five to 10 years, according to 47% of the surveyed C-suite executives and investors in the U.S. and European pharma/biotech, medical devices/technology and healthcare services sectors.
- In the U.S., respondents expected little slowdown under the President Donald Trump administration — with more than half (55%) predicting a majority of U.S. healthcare payments being value-based by 2020.
With the rapidly changing healthcare environment, many organizations in the industry are looking to partner with entities rather than purchase them outright as a way to maintain or boost market share. A recent example is UPMC’s partnership with cloud computing and AI giant Microsoft to create innovative care delivery products.
The transition to value-based care is also impacting C-suite decisions about investments to increase staff satisfaction. A recent survey conducted by HIMSS Analytics showed 68% of the healthcare leaders who responded plan to adopt new technologies and tools to improve the use of EHRs and ease clinician burnout.
Healthcare leaders surveyed by Lazard see mergers and acquisitions, partnerships and collaborations, including those with nontraditional competitors, as facilitators for the shift to value-based care. In addition, nearly half (47%) of the surveyed U.S. healthcare services executives and investors believe big data and analytics will be a driving force in value-based models, while 39% said it will play a moderate role.
"Appropriate utilization of meaningful data, along with more robust training in its collection, analytics and its application, will ensure that tomorrow’s health professionals will be better prepared to improve healthcare systems, create more meaningful policy, improve patient outcomes and educate our communities about the overall future of health and disease," Dr. Mark Johannsson, academic dean of the College of Health Professions at University of Phoenix, recently wrote in a Healthcare Dive guest post.