The Re-emergence of Shared Decision Making in Value-based Care
For many years shared decision making (SDM) has been recognized as a powerful method of improving care quality and reducing costs. Through the delivery of SDM, Health Dialog has seen a reduction in utilization and cost and improvements in the quality of care in both payer and provider models. Many academic and field-based studies have demonstrated the benefits and this research has lead forward thinking practitioners to add SDM into their workflows. However, adoption was low because in fee-for-service payment schemes it required an investment most provider groups and health plans were simply not positioned to make.
Today, the healthcare market is making a dramatic shift away from fee-for-service to reimbursement schemes that value clinical outcomes. Fee-for-value reimbursement arrangements provide financial rewards for delivering patient-centric, evidence-based care, which is cost effective. As a result, interest in SDM is reigniting interest throughout the industry. Through legislative action and mandated programs and initiatives, the federal government has positioned SDM as a key element of its strategy to reduce healthcare costs and improve population health. Several state governments have also taken steps to promote healthcare quality and delivery improvement through its practice in the form of proposed and passed legislation.
As the market continues to move toward value-based care delivery, providers will look to SDM to significantly improve health outcomes and lower costs while transforming the way they communicate and collaborate with patients. As government and private payers continue to partner with providers on fee-for-value programs, SDM will be critical to moving provider practices forward as they strive to comply with healthcare reform expectations and deliver more accountable care.
To learn more about shared decision making and its growing role in the improvement of patient care, read, “Using Shared Decision-Making to Spark Quality Patient Care,” recently published by PatientEngagementHIT.com.