The medical industry’s revenue and payment systems are moving toward value-based reimbursement, an alternative payment model that reflects the increasingly patient-focused, value-based delivery of care within health care systems. Value-based reimbursement solutions help reduce payer health care costs by optimizing the payer-provider relationship and payment structures. Value-based reimbursement solutions can exist as software, service, or a hybrid of both; the latter allows health care software vendors to equip health care organizations with the analytics and expertise necessary to revamp existing reimbursement models. By deploying value-based reimbursement strategies, hospitals and health care practices can better and more accurately compensate the services rendered to a patient.
To qualify for inclusion in the Value-Based Reimbursement category, a product must:
Identify high value care payment method bundles and insurance providers
Mine and analyze patient and population data
Model and analyze impact of value-based reimbursement models
Offer flexible or customizable contract templates