In this video, two experts at Vanderbilt University Medical Center (VUMC) in Tennessee describe how they implemented value-based care from the provider’s point of view. They distinguish provider-led from payer-led bundles, reveal how VUMC had to evolve, and describe which medical conditions are most appropriate for value-based care.
Value-based care is not new. Kaiser Permanente, a well-known employer-based provider, started in 1945. Even earlier, in 1937, the member-owned Group Health Association (GHA) formed in Washington, D.C.
But in the current wave of taking on risk, payers dominated. According to C.J. Stimson, MD, JD, Chief Medical Officer, Employee Health Plan at VUMC, payers don’t have as many tools as providers to meet patient needs. And because VUMC’s culture is heavily focused on patients and providers, the health system needed to create bundles to match that culture.
Brittany Cunningham, DNP, MSN, RN, CSSBB, Vice President for the Episodes of Care Office, Population Health, offered three places to start designing a value-based care program: Ask providers where they can take on risk, talk to customers about their pain points, and review data to identify high costs.
Though there was a bit of a learning curve, VUMC made the transition to value-based, provider-led healthcare by honing their understanding of the revenue cycle and identifying the financial models that would make their care-first model successful. Watch the video below to learn more from VUMC experts about what it takes to implement provider-led bundles in your organization.
Learn more about Vanderbilt University Medical Center (VUMC): https://www.vumc.org/main/home
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