Value-based care: Be prepared and nimble

Q. How is the shift to value-based care payment models impacting HME companies? 

A. The better question is, "How will it not?" 

With clinical providers focused now more than ever on patient outcomes and satisfaction, it means they must maximize resources, they must aim to treat patients more effectively and efficiently in shorter time frames, they must work under tighter insurance reimbursement margins, and they must make every effort to reduce the overutilization of products overall - HME organizations will undoubtedly feel the effects. 

Changing health care payment models and getting every market sector to simultaneously jump on board to follow suit is much like getting an extremely large freight train to slow down and turn a corner – it will take a long time for the industry to catch on and it will take time for insurance companies to chase down offenders who are slow on the uptake. Regardless, value-based care models are alive and well today and are nothing to turn a blind eye to. 

HME companies need to ask themselves, "Are we prepared for this shift?" and if not, "How are we preparing for the coming changes?" If care providers keep up their end of the value-based care gameplan, overutilization of products will decrease over time. This means sales volumes will experience a slow decline. To keep up, it will be wise for HME organizations to target and reach new market segments and customers, meanwhile preparing to be nimble as insurance reimbursement rates continue to shrink. 

Kaitlyn Rios, PT, DPT, CWS, is vice president of clinical business development for DermaRite Industries. Reach her at KRios@dermarite.com.