As aging populations continue to grow, geriatric-specific medical care is more important than ever. And at the end of the day, the highest quality care is expertly coordinated care. Value-based contracts make such collaboration not only possible, but also successful from a business management perspective.
Value-based contracts are innovative payment models that bring multiple health care systems, providers, and facilities together to deliver quality, coordinated care to patients in the most efficient ways possible. It’s a promising way to shift from a focus on volume to a focus on value in our healthcare system, as well as evolve alongside scientific and technological innovation.
During GEHRIMED’s virtual 2020 LTC Summit, Amanda Tufano, the CEO of Genevive, gave us a glimpse into what it takes to build and maintain a successful value-based infrastructure in geriatric health care spaces. Genevive, a geriatric medical practice based in Minnesota, has held multiple value-based payor contracts for dual-eligible patients since 2003 and is currently expanding its footprint with two new I-SNP payor partners. The majority of Genevive’s revenue stems from value-based contracts, which rely on their ability as a team to increase quality and lower costs to both patients and payers simultaneously.
In this presentation, Tufano shares the company’s learnings and failures over the last 17 years to highlight necessary factors for future success and “moving up the revenue stream.” Looking ahead, Tufano believes that the continued success of their model depends on accessing the right data at the right time, turning it into meaningful and actionable clinical information that ultimately supports patient goals and wishes.Curious to hear all Tufano had to say? Access the full presentation.
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