The Benefits of Value-Based Care

The Benefits of Value-Based Care

Value-based care is something that healthcare professionals can use to restructure the way they help their patients. There’s no question that the healthcare industry needs to see some radical changes. Patients’ expenses are higher than ever while their appointments are shorter than ever, and these issues impede insureds’ access to essential healthcare. Managed care effectively solves these problems and gives patients the resources they need to be well. It improves the quality of care and increases your clients’ satisfaction.

What to Know About Value-Based Care

Why consider value-based care? Value-based care proves that improved patient outcomes do not particularly mean profits will fail. Check out these four benefits to learn why managed care may be the future of health care.

Managed Care Offers Prevention

One of the most critical characteristics of managed care is its emphasis on prevention. Unlike other healthcare models that primarily address issues after they’ve emerged, managed care invests in patients’ well-being and health by incentivizing wellness checks, diagnostic screenings, and counseling services. It can help patients identify potential health issues before they occur, ultimately benefiting the patient and preventing high-cost interactions such as hospitalization or surgical intervention.

Managed Care Reduces Costs

You should also consider that managed care often reduces the overall healthcare cost. Consider a patient who has a high risk of diabetes, for example. This patient will likely face a continuously increasing risk if they do not have any access to screenings, regular doctor’s visits, and other essential healthcare resources. Eventually, they may develop diabetes and require costly health care services. Conversely, a patient with access to preventive care can identify their risk before it comes to fruition and avoid the aforementioned outcome.

Managed Care Improves the Patient Experience

It’s unfortunately easy for healthcare companies to focus exclusively on profits — much to the detriment of healthcare consumers. Value-based care can mitigate this issue, though, because it improves patients’ experiences while reducing the cost of care at the same time. It is true because managed care typically encourages practitioners to spend more of their time with patients and offer more attentive care. It allows patients to enjoy more control over their health and optimize the benefits of their care.

Managed Care Saves Insurers Money

Managed care offers plenty of benefits, but insurers will likely be most interested in this — value-based care can offer tremendous savings compared to a traditional care model. Preventive care, reduced costs, and better patient experiences contribute to this. When consumers feel empowered to care for their health, they often do so more effectively, which can significantly reduce the frequency and expense of costly care services. It translates to greater profits for insurers while patients can enjoy better health.

About Connected Risk Solutions

At Connected Risk Solutions, we use our expertise and experience to provide insurance information and programs to those who serve long-term care and senior living facilities. Since 2007, we’ve been offering insurance and risk management plans designed to help our agents give their clients the ability to achieve continued growth while simultaneously protecting against loss, containing costs and increasing profitability. With three offices to serve you in Chicago, Illinois; Phoenix, Arizona; and Burlington, Connecticut, we do everything we can to make your experience with us as professional and transparent as possible. To learn more, contact us at (877) 890-9301.

About Connected Risk Solutions

At Connected Risk Solutions, we provide our agent partners with bold solutions for comprehensive insurance and risk management that are unmatched in the industry. We have market connections and collective decades of industry experience, including deep specialization in healthcare liability and managed care E&O, cyber and tech liability, management and professional liability, as well as captive management and risk management. We strive to develop creative solutions no other wholesaler can match and to help our agent partners give their clients the ability to achieve continued growth while simultaneously protecting against loss.

Our specialists, located in offices throughout the country, are responsive and engaged. To learn more, connect with us.

Table of Contents

Related Posts:
ConnectedRisk_ProfessionalandManagementLiability
Understanding Professional and Management Liability in Healthcare: Essential Coverage for Healthcare Providers
One of your jobs as an insurance agent is understanding the intricacies of professional and management...
ConnectedRisk_HealthcareCybersecurityStrategy
Healthcare Cybersecurity Strategy: Strengthening Defenses Against Cyberattacks
In today’s interconnected world, healthcare organizations face increasing risks and challenges...
ConnectedRisk_Reinsurance
Explaining Reinsurance in Healthcare
Reinsurance is a term many in the insurance industry are aware of, and it also plays a role in healthcare....