Value-BASED payment models require physicians to deliver the best outcomes while managing resources appropriately. Physicians have long focused on quality of care, but in a relatively new development, they now have to pay attention to resource utilization as well, with the goal of reducing overall cost of care. To succeed at this, they need data on health care costs, tools to analyze costs related to outcomes, and aligned financial incentives.
The Deloitte 2018 Survey of US Physicians found that two-thirds of physicians get some quality and productivity information:
- Sixty-six percent receive information on their own quality performance.
- Sixty-seven percent receive data on their own productivity.
But the situation is considerably different for cost-related information:
- Seventy-two percent of physicians consider cost data valuable, particularly at the point of care.
- However, only 28 percent receive cost information, such as cost or resource use for their attributed patients, for physicians and facilities to which they refer, or estimated patient out-of-pocket costs.
- Lack of information limits physicians’ ability to perform certain tasks: Forty-three percent of respondents say they are not able to find low-cost lab and imaging options and 36 percent cannot identify high-quality skilled nursing facilities, rehab, or home health.