Your Guide to Value-Based Care for Independent Physicians

Many independent physicians report that value-based care is both exciting and intimidating, promising and perplexing. The model’s emphasis on high-quality medicine and the doctor-patient relationship is accompanied by new terminology, extensive education, and a paradigm shift in your approach to patient care.

To cut through the confusion and help you navigate the volume-to-value transition, we’ve created “Demystifying the Journey to Value-Based Care for Independent Physicians.”

This free, comprehensive guide contains actionable tips and research-backed insights. Inside, you’ll find helpful advice from a diverse group of Privia’s healthcare experts on topics ranging from ACOs to EHRs and data analytics to physician engagement.

To give you a sneak peek, we’ve selected two standout quotes highlighting two cornerstones of value-based care: building a culture of trust and improving patient access.

Keith Fernandez, MD (Chief Clinical Officer): “Not all physicians are ready for new models from the get-go. To bring these physicians up to speed, it’s essential to first focus on trust-building and then move quickly to focus on specific actions, such as quality and risk adjustment.”

A widespread misconception among independent doctors is that they must figure out everything on their own. Thankfully, that is not the case. In fact, physicians today have more partnership opportunities than ever. As the Advisory Board has noted, “Physicians have more agency and options than ever, and partners are willing to customize the right model for the right group.”

Tune in to our podcast to hear Dr. Fernandez and Privia Health CEO Shawn Morris unpack physician enablement.

One of the most popular, reliable partnerships is with a physician enablement organization. The organizations often specialize in value-based care, equipping private practices with digital tools, a management services organization (MSO), support for payer contracting, and more. As Becker’s Hospital Review reported: “The physician-enablement space is starting to attract serious attention. … Together, physicians and enablers can create a pluralistic, multi-tier model where most doctors are happy and high-performing while aligning incentives to realize new efficiencies, collaborations, and mutually beneficial growth opportunities.”

According to industry experts, you should consider these six key criteria when evaluating a partner for physician enablement:

1. Technology-driven
2. Capital-efficient
3. Physician variety
4. Payer-agnostic
5. Flexible yet replicable to achieve scale
6. Long-term commitment

Additionally, you should look for a partner that prioritizes trust and transparency. Research shows that physicians’ trust is linked to greater retention and longevity, which are vital to value-based care.

Rick Foerster (Senior Vice President of Value-Based Operations): “Patient access is a foundation of value-based care. It’s the rising tide that lifts all the ships.”

Patient access is a vital part of value-based care. Removing barriers, targeting high-risk patients, and proactively engaging patients in preventive care can help avoid unnecessary ED visits. Reducing these expensive episodes of care can increase patient satisfaction as well as your reimbursements. Additionally, expanding access can grow patient volume, which increases value-based reimbursements.

Technology plays a significant role in boosting access and performance in value-based care. Privia Health Chief Technology Officer Chris Voigt suggests several tech tips:

• Enhance your “digital front door” via an informative, patient-friendly website.
• Leverage telehealth to add convenient touch points for patients.
• Offer direct appointment scheduling to reduce front-office administrative burden and lower no-show rates.
• Deploy a robust patient portal that allows patients to conveniently pay bills, chat with care teams, view test and lab results, and more.
• Reduce administrative work to focus on patient care by using an AI-powered scribe.

Together, these tools can create a patient — and provider — experience that aligns with value-based care goals.

If you’re thinking of transitioning to value-based care, download our free, comprehensive guide, “Demystifying the Journey to Value-Based Care for Independent Physicians.”