Critical Analysis of Erickson et al (2020)
In their article, “A Value-Based Vision for American Medicine,” Erickson et al (2020) argue that value-based models are the best way to bend the cost curve in the US healthcare system. They define value-based healthcare as “care that achieves the best possible health outcomes for patients at the lowest possible cost.”
Erickson et al make several arguments in favor of value-based models. First, they argue that value-based models align the financial incentives of providers with the goals of improving patient outcomes and reducing costs. Under fee-for-service, providers are paid for each service they deliver, which can lead to overutilization of healthcare services. Under value-based models, providers are rewarded for achieving specific health outcomes, such as reducing hospital readmissions or improving preventive care.
Second, Erickson et al argue that value-based models allow for greater coordination of care. Value-based models typically involve providers working together in networks to provide care to patients. This can lead to better communication and coordination between different providers, which can improve the quality of care and reduce costs.
Third, Erickson et al argue that value-based models allow for greater patient engagement. Value-based models typically focus on preventive care and patient education. This can help patients to stay healthy and avoid costly medical problems down the road.
Overall, I believe that Erickson et al present solid arguments in favor of value-based models. Their point of view is similar to what I have read and thought about ways to decrease costs while increasing quality. However, I do have some concerns about whether their point of view considers other healthcare-related professions.
One of my concerns is that Erickson et al focus primarily on physicians in their article. They discuss the challenges that physicians face in transitioning to value-based care, and they propose solutions that are specifically designed for physicians. However, other healthcare-related professions, such as nurses, pharmacists, and social workers, also play an important role in value-based care. It is important to consider the perspectives of these other professions when developing and implementing value-based models.
Another concern is that Erickson et al do not discuss the role of payers in value-based care. Payers, such as insurance companies and the government, play a critical role in setting the financial incentives for providers. It is important to engage payers in the development and implementation of value-based models.
Despite my concerns, I believe that Erickson et al’s article is a valuable contribution to the discussion of value-based care. It is important to hear from physicians about the challenges they face in transitioning to value-based care. Erickson et al’s article provides valuable insights into these challenges, and it proposes some solutions that could be helpful to physicians and other healthcare professionals.
Additional Thoughts on Value-Based Care
In addition to the points raised by Erickson et al, there are a few other things to keep in mind about value-based care. First, it is important to note that value-based care is not a one-size-fits-all solution. There are a variety of different value-based models, and the best model for a particular organization will depend on a number of factors, such as the organization’s size, the type of care it provides, and the population it serves.
Second, it is important to note that value-based care is not a quick fix. It takes time to develop and implement value-based models, and it takes time to see the results. However, the potential benefits of value-based care are significant. By aligning the financial incentives of providers with the goals of improving patient outcomes and reducing costs, value-based models can help to make healthcare more affordable and accessible for everyone.
Conclusion
I believe that value-based models are the best way to bend the cost curve in the US healthcare system. Value-based models align the financial incentives of providers with the goals of improving patient outcomes and reducing costs. Value-based models also allow for greater coordination of care and greater patient engagement.
However, it is important to note that value-based care is not a one-size-fits-all solution, and it is not a quick fix. It takes time to develop and implement value-based models, and it takes time to see the results. However, the potential benefits of value-based care are significant, and I believe that value-based models are the best way to make healthcare more affordable and accessible for everyone.
