HSBlox is focused on enabling value-based care. Value-based contracts are predicted to cover nearly 65 million Americans by 2025. The percentage of the insured population in value-based contracts is expected to grow by 10% per year from 2022 to 2025.
There are five necessary components to a successful VBC ecosystem:
It is important to understand that successful implementation of value-based programs requires a purpose-built value-based administration platform that provides complex hierarchy support for onboarding, data capture, digitization, and exchange. A network essentially consists of the providers, facilities, suppliers, and organizations that a health insurer or risk-bearer has contracted with to deliver healthcare services to patients. This creates very complex many-to-many relationships when an entity in one network is engaged in several networks with different contractual engagements with other entities. A network of networks is possible only with an infrastructure that supports both the complex hierarchies between these entities.
However, the transition from a volume-based transactional billing model to one that incorporates financial risk tied to the patient’s health outcome is not an easy one. There is a need in the industry for a platform that supports a solution that is not “rip and replace” and can augment the existing infrastructure to support VBC programs, including specific use cases like SDoH (social determinants of health), value-based payments, quality reporting and others.Read the full article here: https://medium.com/authority-magazine/health-tech-rahul-sharma-on-how-hsbloxs-technology-can-make-an-important-impact-on-our-overall-a47ed2fb96d2