GoHealth, Inc., a leading health insurance marketplace and Medicare-focused digital health company, examines the role of Value-Based Care (VBC) in Medicare Advantage (MA) following its recent analysis revealing that, when considering health plan designs available in the marketplace, the VBC model in Medicare Advantage could be an ideal alternative for seniors to achieve optimal care and cost-savings due to its primary focus on quality care.
Value-Based Care (VBC), a model of care based on quality, not the quantity of services, is the “standard of care” to treat seniors 65 and help them achieve lower costs and quality care during a critical period in their lives. According to the Centers for Disease Control and Prevention, approximately 80% of seniors have at least one chronic disease, highlighting the need for advanced care coordination.
MA and VBC work together to produce quality outcomes. With Medicare Advantage, a multidisciplinary team provides personalized care tailored to the member’s needs to maximize wellness. This level of expertise allows for early interventions during the continuum of care, from care management and population health to clinical care and member services, saving the healthcare system significant dollars. On average, seniors can save as much as $1,477 a year with Medicare Advantage.
“It is critical that we continue transitioning from the old way of doing things to Value-Based Care, which will reduce costs and improve outcomes for our seniors,” said Paul Hain, M.D., Chief Medical Officer at GoHealth.
Edited by Maryssa Gordon, Senior Editor, Price of Business Digital Network