The concept of “value-based care” is hardly new to community pharmacists, who have long understood the importance of engaging with patients, monitoring their progress, and encouraging them to take medications as prescribed. But it seems the rest of the world has caught up in recognizing the value in prioritizing the quality of care given to a patient, rather than the volume of medications or services provided.
Indeed, a shift away from fee-based reimbursements, in favor of value-based outcomes, was a cornerstone of the 2010 Affordable Care Act(ACA). The ACA included a number of provisions intended to improve patient health – and reduce costs – by holding providers accountable for outcomes. Among other priorities, the ACA sought to reduce the number of hospital re-admittances by rewarding healthcare providers that successfully coordinate patient care and well-being. The effect, according to The Commonwealth Fund, has been a transformation in health care delivery and payment models across the United States.