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Investing In A Value-Based Model For Better Mental Health Services

The healthcare sector is constantly changing, and the advent of technology has allowed patient service and satisfaction to increase significantly. More and more efficient systems are introduced in various areas, and such changes have become key to revolutionizing the world of medicine forever. 

One of the most prevalent models of today is value-based care in behavioral health, which has now been designed to further cater to patients. Under this innovative model, providers are allowed to enjoy a reduction in costs, decreased medical errors, and various other benefits. They’re essentially rewarded better for ensuring a client’s good health condition, which can include the negative impacts of specific diseases.

In the value-based care model, providers are rewarded based on the client’s health, and not by the service they’ve performed. Due to the incredibly rewarding impacts of the model on both sides, more and more healthcare providers turn to this model to improve their services. 

To help you fully grasp how significant proactively pursuing this model can achieve, here is a quick rundown of all its rewards:

1 – Serve your clients better by lowering their costs 

When it comes to treating mental health and physical ailments, fees for services are still based on traditional payment methods. Simply put, providers still treat conditions as symptoms appear, and never as a way to prevent them. 

With the help of a value-based care model, however, physicians are now inclined to treat patients proactively, making sure that they remain healthy at all times. This is especially helpful when it comes to mental health, especially since patients will also be required to pay less. As a result, all aspects of one’s health becomes a consistent process. 

2 – Provide the better value of service 

Medicine is a field that will unlikely cease to be significant, but entering the fray requires business acumen. If you wish to have a continuous stream of patients, emphasizing client satisfaction is crucial. 

Value-based care can help providers succeed in this area, especially since clients already know they’ll be visiting and getting the results they need, including help for their mental health. Both parties go home with satisfactory smiles—revenue will be good on your end, while clients will feel cared for.

3 – Reduce human error and health risks 

Mental health is still an area of health that requires learning and rapt attention, especially since most people don’t quite understand how important it is. Various healthcare professionals are still prone to committing mistakes, but value-based care reduces the onslaught of such occurrences. 

Through this model, healthcare providers can now approach mental health as something that can be proactively treated, before things escalate. As a result, behavioral health gains the attention it needs, while clients get the service they deserve. 

Investing In Better And Holistic Health Practices 

The medical world will only continue to evolve, especially in such a fast-paced world. People from all walks of life expect to have access to better healthcare access, and more providers are scrambling to meet the demand. While such changes can be daunting, the ultimate goal is to provide better care for many. A holistic approach entails the healing of the mind, which can be brought about by investing in a value-based model.

If you’re looking to invest in value-based programs to better your practice, Medistics Health can help. We make your patient’s experiences as easy as possible, all with the help of innovative tools and a supportive team. Reach out to us today. 

Profit Calculator Assumptions: 40% of total Medicare patients enrolling is based on (i) Medicare Chart Book’s data showing that ~68% of medicare patients qualify for CCM (2 or more chronic conditions), and (ii) that ~40% of eligible patients will enroll.

For typical providers, $46.67 of net profit per patient per month is based on a Medicare reimbursement per patient per month (national average) for various care management CPT codes.

CPT and other codes, descriptions and other data are copyright 2011 American Medical Association. All rights reserved. CPT is a registered trademark of the American Medical Association (AMA).