On Friday, August 16th, the MidSouth PTN held their first track of Value-Based Care University (VBCU). VBCU’s vision is to “empower healthcare leaders with the knowledge, resources and partnerships they need to succeed in value-based care through 2020 and beyond.” The purpose is to help the medical community understand value over volume and thrive in the future of healthcare delivery. The MidSouth PTN has partnered with CMS to offer three tracks of education: a track for frontline staff, a track for clinicians, and a track for executives, including healthcare leadership and consultants. The MidSouth PTN led a highly successful first session with frontline staff attendees.
The Principal Investigator of the MidSouth PTN, Dr. Russell Rothman, opened the session showcasing the success the of MidSouth PTN’s Transforming Clinical Practice Initiative (TCPI) practices. TCPI helped practices understand the model of value-based reimbursement. Through TCPI, MidSouth PTN practices began to understand the importance of change and how to use the tools provided to transition into value-based care. 29% of MidSouth PTN practices have successfully transitioned into Alternative Payment Models (APMs) or Advanced Alternative Payment Models (AAPMs), which embody the value-based care approach.
Keynote Speaker Dr. David Hanekom, CEO/CMO of the Arizona Care Network, stressed that value-based care is focused on outcomes. “Outcomes matter. Therefore, practice transformation matters.” Dr. Hanekom reiterated the importance of transformation, stating with the Medicare Access CHIP Reauthorization Act of 2015 (MACRA) in place, Merit-based Incentive Payment System (MIPS) and (A)APM participation will be increasingly fundamental for healthcare entities to succeed in a value-based care world.
Dr. Hanekom concluded his portion of VBCU by encouraging practice staff to continue what they learned through TCPI. He believes care coordination has a strong influence on a patient’s outcome. Every person on a care coordination team has as much of an impact as a physician.
“If we all focus on the best interest of the patient, you’ll be amazed what you can achieve.”
Anne Marie Rainey, the Compliance and Quality Control Officer of Clearview Cancer Institute continued the session by putting value-based care in simple terms. Value-based care “rewards a provider for a good patient outcome.” She said the reason a fee for service model does not work is because it’s like “going to the grocery store without a list.” She then went over a brief history of healthcare in the United States, finishing her session with the words “value-based care is here to stay.”
Professor Rangaraj Ramanujam, the Richard M. and Betty Ruth Miller Chair in Healthcare Management at Vanderbilt Owen Graduate School of Management, discussed change management for value-based care delivery. He defines value as “patient health outcomes per dollar spent.” Professor Ramanujam explained to the group there is not a single change, but rather an integrated set of changes to create value-based care delivery. He emphasized the importance of a “physician champion” who can bring a vision of change to the larger group.
“If you think you’re over-communicating your message, do it ten times as much.”
-Professor Rangaraj Ramanujam
Mike Anctil ended the day speaking on fiscal risks and payoffs. He explained that risk is not necessarily “an opportunity of loss,” but rather an “opportunity for loss.” Anctil advised the group, “expenditures without a meaningful opportunity is a loss.” He ended his presentation by focusing on the importance of engaging every stakeholder, including enrollees and suppliers, when considering risk.
Value-Based Care University ended with an interactive Q & A panel between presenters and attendees — we were thrilled to hear great questions and witness strong engagement in value-based care dialogue.
Building on our pilot event successes, we are preparing our clinician and executive tracks of VBCU. The clinician track will be offered October 30th. Additionally, CME credit and certificate programs will be offered to our participants in the future – stay tuned for updates!
To receive VBCU news and event updates, please join our listserv by emailing MidSouthPTN@vumc.org.
For more information about VBCU and available value-based care resources, please visit midsouthptn.com/value-based-care-university.