Healthcare spending is skyrocketing in America, reaching a whopping $3.5 trillion in 2017 and projected to rise another 5.5 percent annually over the next decade. As the industry seeks to contain these costs, providers are shifting their focus from the quantity to the quality of care they deliver – and that’s where value-based care comes in.
In contrast to the traditional fee-for-service model, the value-based approach rewards providers for efficiency, as well as patient health outcomes. Reducing expensive – and sometimes avoidable – acute care episodes is integral to the success of this approach, which is why mental health is an important part of value-based care. By identifying and resolving behavioral health issues earlier, healthcare organizations can keep patients healthier – a win-win for patients and providers.
In our ongoing Sector Spotlight series, we focus on how telepsychiatry can help value-based care providers access mental health services that benefit their patients and their bottom lines.