Market report focuses on impact, performance of value-based care firms

KLAS published its inaugural market report on value-based care (VBC) this week, surveying more than 100 healthcare executives about the impact of hiring VBC firms for consultations or managed-care services.

In the report, KLAS identified a total of 33 important functions providers must do differently as they make the transition to VBC, categorizing those functions into three “core pillars”: organizational alignment, care management, and reimbursement alignment.

Providers face a difficult choice when it comes to selecting a VBC firm to work with, according to the report, because the situation is never the same from one provider to the next.

"A provider’s first step in choosing the right firm is to weigh their needs versus a firm's capabilities," Warren Whitford, KLAS research director, said in a statement. "Although the firms we evaluated are trying their best to bring a consistent set of methodologies and processes to an inconsistent market, each provider is on a different trajectory and the market is continuously evolving."

Advisory Board and Lumeris lead the pack in terms of delivering on a company’s triple aim objectives, with 100 percent of Advisory Board clients reporting a high impact.

"In order to survive in this new world of value-based care, providers need firms who can help them feel confident in their progress towards Triple Aim objectives, meaning can they impact patient access and satisfaction levels, help improve patient outcomes and reduce healthcare costs," Whitford said. "Providers can also evaluate firms based on their ability to help them prepare for alternative payment models that are a result of the VBC model.”

The KLAS report also found that Advisory Board, Conifer, and Evolent Health were the most helpful in preparing companies for potential future risks.

Additional information about KLAS and its work can be found on the research firm’s website.