Business Insider: Loopback, Accenture Hope to Clear Up Value Based Care
ACCENTURE, LOOPBACK JOIN FORCES TO IMPROVE NEW PAYMENT MODELS: Accenture is partnering with population health management company Loopback Analytics to make it easier for hospitals and clinics to develop and use value-based care payment models, according to HealthcareITNews. Value-based reimbursement (VBR) is an emerging payment model that focuses on measuring a patient’s health outcome against the cost of delivering the outcome. That differs from fee-for-service — the predominant system — that charges for the number of services delivered to the patient, such as lab tests, MRIs, and clinical visits. Since VBR is based on positive health outcomes rather than the medical services provided, it’s often more appealing to consumers. However, this can also make it difficult to measure from a business standpoint. One of the aims of the Accenture-Loopback partnership will be to help health systems improve cost efficiencies of delivering healthcare and have more consistent clinical outcomes. This will make it easier to measure the cost of care for patients on these new models. Accenture will lean on Loopback’s platform to help clients measure their clinical performance and suggest areas for improvement. The two companies hope that the partnership will give providers clearer guidelines to assess the financial impact of future VBR instances.