Blue Cross Blue Shield of Massachusetts (Blue Cross) announced a new value-based payment model that offers small practices financial support through a global payment, upside risk incentives, and an immediate support payment.
“Many independent primary care physicians want to practice medicine in a way that’s more patient-centered and less focused on tests and procedures, but they have never had a payment arrangement that encouraged it. Now they do,” said Matthew Day, Blue Cross senior vice president of network payment innovation and contract management.
Value-based programs are difficult to incorporate into a small practice setting. The high costs associated with taking on seriously ill patients prevent small practices from engaging in high risk models. As a result, Blue Cross has previously geared most of its value-based care payment programs toward practices with 10,000 Blue Cross members or more. That is, until this point.