Value-based benefits are increasingly becoming a popular healthcare model where agents or BSPs receive reimbursements depending on patient outcomes. It has seen other models like fee-for-service become unfavored.
Value-based benefits assist patients in having access to better health services even as the providers are held accountable for the outcome of their care. It also enables providers with reasonable offers to have a broader patient outreach, resulting in better performance. Providers mainly attribute the rapid shift to this model to technological advancements. Are you wondering what the impact of technology on benefits’ success is? Here is an explanation of technology’s role in value-based benefits.
Value-Based Benefits Have Improved Telehealth Services
Telehealth enables healthcare providers and patients to communicate digitally from anywhere using software on their mobile phones or computers. Patients can use a video follow-up appointment which ensures physicians can verify they’ve made the correct diagnosis and given the best treatment plan. This makes them accountable for their services while also giving patients high-quality health services. The providers also have an easy time recording their revenue streams while staying in touch with patients virtually.
Enables Remote Test Results Review
If a patient goes for diagnostic imaging, the healthcare provider needs to help them understand the results of these tests. They also need to know what actions are necessary after the tests. But this doesn’t necessarily call for the patient to go back to the doctor’s office to review the results. Therefore, telemedicine software can make accessing care easier.
It enables the patient and the healthcare provider to have a face-to-face session where the healthcare provider explains the condition and ensures the patient understands their condition better. The two parties can also form a good relationship while the provider gets their reimbursement at the end.
Facilitates Remote Patient Monitoring
Technology provides a virtual platform where patients’ caregivers can monitor their health remotely. This can be done through wearable technologies like a watch with the help of associated apps. The healthcare team or doctor can use web-based or mobile applications to upload patients’ information like their blood sugars or weight. They can also give the patient devices that test and transmit results wirelessly. Alternatively, they can provide home monitoring devices for the aged which show changes in their everyday activities like pressure levels.
It Leverages Coordinated Care
Care coordination helps the patient’s caregiver get organized care activities on time. It also makes sharing of vital information amongst the involved parties safe and effective. Through care coordination technology platforms, every patient’s needs and choices are given priority while ensuring they’re high-quality, timely, and result in safe practices. The platforms prevent communication breakdown, give the right data connection, and provide vital information to care providers.
Also, care coordination helps patients not incur unnecessary expenses like doing duplicate tests or readmissions. It also makes different healthcare providers know the prescriptions their patients are using to prevent poor patient outcomes.
It Enhances Cost Transparency
There are several tools a patient can use to know the price of their medications or tests before treatment, unlike in the past. Some of these tools enable a patient to get an alternative drug that they can comfortably afford. Patients can also make price comparisons through technology or get alerts on in-network options for care referrals. This reduces costs incurred by patients while giving a healthcare provider with better offers for more clients.
Learn More About Value-Based Benefits
With so many technology services for employees to access, it’s critical to offer an easy access point. The more centralized employee benefits and resources, the easier they are to access. Make sure your cases have a great way to connect their employees with their care and benefits. Contact us to schedule a demo that enables your employees to have an easy time accessing these tools from anywhere.