Managing medications can be overwhelming at times. When you’re setting up a medication regimen, it’s important to be aware of the dose, frequency and timing of your prescriptions, including the adverse effects that can occur when different medications coincide.
Meanwhile, the prices of medications seem to keep increasing, and because of inflation, your dollar isn’t stretching as far as it did five years ago. Will it ever stop? Maybe, and maybe not.
A new type of care is emerging, and it could impact the way Medicare patients everywhere manage their medications. It’s called value based care, where the emphasis is on quality, evidence-based, patient-centered care.
Value based care is intended to help Medicare patients – particularly those with complicated medication regimens – focus on preventing and managing diseases through diet and exercise, rather than treating the symptoms through medication. Even those with chronic conditions may see a decrease in the number of medications prescribed.
How is value based care different than fee-for-service?
Traditionally, the health care system operated on a fee-for service system. This means that the patient would simply pay for the services provided. It seems reasonable. But it’s not that simple. Sometimes, the financial incentive of a complicated Medicare patient gets in the way of the care plan that the patient needs.
Instead of being compensated for each service or prescription, value based care partners are compensated for improved health care outcomes. This model has the potential to change the way that care is delivered, leading to better health with fewer medications.
Value based care paves the way for patient-centered care that works to prevent illnesses like heart disease and type 2 diabetes. Preventative care may help to reduce the number of medications that Medicare patients need to manage.
Increased care collaboration
One hallmark trait of value based care is the increased collaboration between providers. Providers from a variety of disciplines come to the table to discuss treatment options that will improve patient care and avoid redundant procedures. This is especially helpful for Medicare patients with complicated health concerns.