Driving Efficiency and Quality in Anesthesia Practice: A Strategic Shift Towards Value- Based Payment Models
Valued-based payment (VBP) arrangements have been growing in the United States since the Patient Protection and Affordable Cares Act (PPACA) became law in 2010. The shift from FeeFor-Service (FFS) towards VBP has been slow and mainly directed towards primary care specialties. Factors that have limited broad adoption include: poor design and understanding of metrics, suboptimal alignment of stakeholders on efficiency and cost saving incentives, and limited information technology (IT) infrastructure for revenue cycle management (RCM) and regulatory reporting. Anesthesia as a specialty still lives in an FFS world, but it is well positioned to lead the transition towards value-based care. Large group practices like US Anesthesia Partners (USAP), have invested resources in innovative technologies as a strategy to overcome such barriers and are now partnering with payers in piloting at risk VBP contracts that address population health challenges like decreasing hospital readmission rates. This analysis looks at how USAP is using quality to “win” in the value-based environment and how the focus on operational efficiency translates into cost savings for hospital and payers.
Recommended CitationVelez, MD, Samuel J., "Driving Efficiency and Quality in Anesthesia Practice: A Strategic Shift Towards Value- Based Payment Models" (2021). Master of Science in Population Health Capstone Presentations. Presentation 22.