Chris Stanley, MD, via Trustee Magazine
While managing a patient population is new to many healthcare organizations, this is no longer uncharted territory. “We can point to successful models, and we now know what works and what doesn’t,” said Christopher Stanley, MD, director in the Healthcare practice at Navigant. As examples, he cites early adopters like Geisinger Health and Intermountain Healthcare.
But time, talent, and resources are needed. “This is not like flipping on a light switch,” Stanley said. “It usually takes one-to-three years of capability development and expansion before an organization would want to take on risk, especially downside risk.”
Among the various skills needed, the following five capabilities are key to success in these arrangements, say leaders involved in this work:
“It’s important for trustees not to think of Advanced Alternative Payment Models (APM) strictly as some type of government hoop to jump through,” said Stanley. “It’s important to place these into the larger tectonic shift (toward value) underway in the healthcare industry.”
Stanley recommends that hospital trustees and senior leaders consider the following questions when discussing Advanced APMs and other value-based payment arrangements: