What Does the Future of Value-Based Care Look Like in 2024 and Beyond?
The future of value-based care (VBC) is poised for significant transformation, driven by several key trends that are reshaping the healthcare landscape. These trends include advancements in artificial intelligence (AI), payer consolidation, increased adoption of VBC strategies, focus on social determinants of health (SDoH), growth in specialty accountable care organizations (ACOs), rising healthcare costs for employers, and the growing use of telehealth. Here's a detailed look at how these trends are influencing the future of value-based care:
AI in Healthcare
One of the most notable trends in value-based care is the adoption of AI tools by healthcare practices to extract insights from data. AI can help physicians identify high-risk patients from patient charts and tailor interventions, leading to more favorable health outcomes. Better patient outcomes are crucial for the success of VBC. For more detailed information on this trend, check out this article from Deloitte and learn more about AI's role in primary care. As AI continues to evolve, its impact on the future of value-based care will likely grow, making it a key player in improving patient outcomes.
Payer Consolidation
Another significant trend is the consolidation of payers and health plan mergers. This trend will impact the future of value-based care by potentially streamlining operations and enhancing the ability to manage large patient populations effectively.
Growing Adoption of Value-Based Care
This year, more organizations are implementing VBC strategies for the first time. The CMS Innovation Center (CMMI) aims to have 100% of Medicare beneficiaries in an accountable relationship by 2030, driving more organizations to participate in VBC.
Increased Focus on Social Determinants of Health
The White House has released a new strategic playbook integrating social determinants of health (SDoH) into national healthcare policy. As CMS adapts its initiatives to prioritize SDoH factors, providers are encouraged to consider these determinants when delivering care, significantly shaping the future of value-based care. For more on this trend, read about social determinants of health.
Growth in Specialty ACOs
There has been significant growth in specialty accountable care organizations (ACOs). This shift indicates a broader movement toward value-based care. For more details, learn about accountable care organizations.
Rising Healthcare Costs for Employers
Approximately one-third of employers are considering value-based care strategies to reduce healthcare costs. This trend is expected to impact the future of value-based care significantly by encouraging the adoption of cost-effective healthcare solutions.
Growing Telehealth Usage
The use of telehealth has increased since the pandemic, positively impacting the future of value-based care by encouraging greater patient involvement and leading to better health outcomes.
What Does the Future of Value-Based Care Look Like?
The above trends are collectively shaping the future of value-based care. As AI, payer consolidation, VBC adoption, SDoH focus, specialty ACO growth, rising employer healthcare costs, and telehealth usage continue to evolve, they are expected to drive more efficient, patient-centered care models. These advancements will likely result in improved patient outcomes and cost savings, painting a promising picture for the future of value-based care.
Hear More About the Future of Value-Based Care from Dr. Sara Pastoor
For a deeper dive into these topics, listen to Dr. Sara Pastoor discuss the future of value-based care on this podcast.
