HFMA Opinion Piece from Navigant's Rulon Stacey on Taking the Volume-to-Value Leap
It's an all too common scenario for providers today: Your commitment to the health and wellness of the communities you serve can leave you at odds with the financial well-being of your organizations. You want to prepare for a value-based future, but how can you do so while continuing to operate in a volume-based world? Moving too quickly to value can cut off access to needed volume-based revenue, while remaining in a fee-for-service mindset risks missed quality, cost, and market share gains.
According to this HFMA opinion piece from Navigant's Rulon Stacey, instead of waiting or obsessing about when to take the volume-to-value leap, executives should implement strategies that work in both scenarios. A former health CEO, Stacey offers proven approaches that providers can pursue now to function effectively in both worlds. He also highlights how Navigant has helped health systems achieve substantial improvements, including a 65 percent decrease in excess length-of-stay and $3 million drop in associated costs through development of a clinically-integrated network.