CCMS Medicine Winter 2017 - 16
Survival of Physicians
in a Value-Based World
BY DENNIS OLMSTEAD, MPA
PENNSYLVANIA MEDICAL SOCIETY
e're past the tipping point as we proceed headlong
into new market-driven accountability for
quality, cost, and value. As employers and payers
demand proven, value-based health care, and the market
shifts from rewarding volume to rewarding value, physicians
must be able to demonstrate the highest standard of care to
effectively remain competitive for the foreseeable future. It's not
something we should do - it's something we must do.
Information from the Centers for Medicare and Medicaid
Services (CMS), the Commonwealth of Pennsylvania, and
commercial payers indicates this value shift will account for a
significant portion of physician reimbursement within just a
few short years.
As payment models quickly change, employers and payers
are demanding greater accountability. Physicians are in a
unique position to work together to co-create meaningful
solutions that result in the highest quality of patient care
available and the appropriate rewards for its delivery.
As a result, many physicians are joining together to seek
opportunities for higher levels of success amid these changes.
By participating in an aggregated, larger network while
maintaining practice autonomy, physicians are given every
opportunity to succeed in the new value-based world.
To lead this effort and help Pennsylvania physicians survive
and thrive in this new health care landscape, the Pennsylvania
Medical Society's 2016 House of Delegates (HOD) passed a
landmark initiative on Oct. 23, 2016. This historic initiative
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