Value-Based Health Care, What is it?

Value-Based Health Care, What is it?

Value-Based Health Care is jargon most people don't know unless they are in the industry, but it is a word you should be paying attention to. The concept itself is going to change the way we receive healthcare, and it is causing a paradigm shift in the healthcare industry. So, what is it? Well the underlying principle of “value-based care” is really not too complicated, it is basically lowering the cost of care for patients, while aiming to improve outcomes. 

In the real world healthcare in our country is considered a luxury. It is one commodity where if times get tough, we cut it off in order to keep the lights on. This can be seen by the ongoing and never-ending medical debt people bury themselves in, and the avoidance of putting off important procedures, and life saving medications due to cost.

With that being said, When we hear about healthcare in America on the news from our leaders, it is usually the ongoing battle of lowering prescription drugs. One can not argue that yes, this is important, but why is it that we hear very little about the most expensive cost to the average American, that being emergency room visits and hospital stays. With the average cost of a day in a hospital costing anywhere from $3,000-$4,000, you would think it would be discussed more. To many consumers this is not new news, and odds are you are dealing with or directly know someone who has medical-debt. 

Like most, we would even go so far as to bet that even with a bombardment of calls, and letters of doom and gloom for non-payment, you just don't have the option of paying that debt due to the high cost. Due to the extreme high price gouging that hospitals charge for services, it makes it impossible for the average American to ever repay fees for medical services. At MediShield we have seen $12,000 MRI’s that we can get for $500 or less! Why is there such a variation in price? Well the answer is simple: the cost of what hospitals charge is all done behind closed doors. In the past years transparency has been implemented in order to fight this very problem, and you can only guess who is not onboard with listing pricing for medical procedures, those very same hospital providers.

Let's get back to our word of the day “Value-Based Care”. You might have seen it being implemented without even knowing. Major companies like Amazon, Wal-mart, and CVS now have a direct primary care (DPC) system where you pay one low monthly fee, usually averaging about $50, with the main purpose of helping people avoid the ER by getting to the root of your medical needs. With DPC, you are not tied down to 10-15 minute visits, but instead you could have visits lasting up to an hour. The perks of having access to your doctor without sacrificing quality of care is a dream that is not out of reach. Having quality healthcare should not be a luxury or a highly priced commodity that is out of reach for the average American, and at BMT we can show you how to achieve it.

Almost every practicing doctor will tell you stories about how much work it sometimes takes to obtain approval for referrals that are absolutely necessary, and procedures that just make common sense. Even still getting taken care of in our current system has all of us pulling our hair out, and running in circles, and that's before we even know what the cost is. As a consumer you need to know that there is a better way, and it starts with you. The way our system is set up now will only benefit the healthcare providers, which is why we as consumers need to start asking one simple question “how much is that going to cost?”, and if they can not tell you or worse refuse to tell you, you need to find someone that will. This is the power of the consumer, and the power of a free market economy which will most benefit the consumer.

If you need help on how to take these first steps, Benefits Management Team, and our expert advocates are here to help. By talking to a MediShield advocate, our members have had hospital bills dropped down to ZERO! Let us be your Advocate and show you how. Contact us today to learn how to take charge of your health care.