CEO: If We Want to Make Health Insurance More Affordable, We Must Change How Health Care is Paid For
Tricia Keith
| 2 min read
Tricia Keith is President and CEO of Blue Cross Blue...
For decades, most doctors and hospitals have been paid based on how much they do: more tests, more procedures, more visits, more money. This pay-for-everything system is called fee-for-service, and it rewards volume, not value. That has led to health care costs that keep climbing — without necessarily improving outcomes for patients.
We believe there’s a better way — one that prioritizes health outcomes, patient experience and more affordable health care. It’s called value-based care.
At Blue Cross Blue Shield of Michigan, we’ve been leading the way to transform how health care is paid for. We are moving away from the fee-for-service model. Our focus of payment is on rewarding quality, coordinated care that delivers real, sustainable health outcomes for our members.
Through innovative payment models and partnerships with leading physicians and health systems, we’re already driving change. Value-based care reduces unnecessary hospitalizations, improves chronic disease management and avoids duplicative testing. In essence, it financially rewards providers for what patients truly want — the best possible outcome that puts them on the path toward better health.
Transformation of this magnitude requires a united effort across the entire health care system. For value-based care to truly move the needle on affordability, hospitals and specialists must embrace this model with the same urgency and commitment we’ve seen in primary care and some specialty settings. We need a collective commitment to value-based care across the health care system.
I invite you to learn more about what Blue Cross is doing to address affordability through advancing value-based care at mibluedaily.com/affordability.
Together, we can redefine how care is paid for — ensuring that quality care is accessible and affordable for every Michiganian.
Photo credit: Getty Images
Continue reading:
