Discussion Board

Discussion Board

[Author’s name]

Discussion Board

Selection and proper implementation of the appropriate payment reform are essential to achieve the objective expanded form of health network. It is one major obligation for the CEO of the health organization to consider the most suitable form of payment to achieve improved domains in the end. The opportunity of the good mix of Medicare, Medicaid, and private pay helps the entity of CEO to select the approach of risk-based contracting.

A critical examination of the risk-based contracting as the effective approach of payment reform is essential to figure out the actual benefits of this method. Risk-based contracting is characterized as the one preferred method in the healthcare industry. This specific method of payment reforms comprised of four basic stages ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"LAAjGxix","properties":{"formattedCitation":"(M\\uc0\\u252{}hlbacher, Amelung, & Juhnke, 2018)","plainCitation":"(Mühlbacher, Amelung, & Juhnke, 2018)","noteIndex":0},"citationItems":[{"id":1108,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/P2AMME42"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/P2AMME42"],"itemData":{"id":1108,"type":"article-journal","title":"Contract Design: Risk Management and Evaluation","container-title":"International journal of integrated care","volume":"18","issue":"1","author":[{"family":"Mühlbacher","given":"Axel C."},{"family":"Amelung","given":"Volker E."},{"family":"Juhnke","given":"Christin"}],"issued":{"date-parts":[["2018"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Mühlbacher, Amelung, & Juhnke, 2018). It is essential to comprehensively consider the requirements of all these stages and take practical measures concerning risk aspects. The success of the risk-based contracting requires main stakeholders to take some aggressive measures to attain the better forms of healthcare outcomes, a suitable form of cost, and patient satisfaction ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"iTa41CuH","properties":{"formattedCitation":"(McFarland, 2019)","plainCitation":"(McFarland, 2019)","noteIndex":0},"citationItems":[{"id":1106,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/ZSVE5J3F"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/ZSVE5J3F"],"itemData":{"id":1106,"type":"article-journal","title":"Three Essentials Providers Need for Risk-Based Contracts","container-title":"Managed Healthcare Executive","volume":"29","issue":"5","author":[{"family":"McFarland","given":"Scott"}],"issued":{"date-parts":[["2019"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (McFarland, 2019). The opportunity of risk-based contracting allows shareholders to critically assess the risk factor and properly utilize the cost trends to achieve anticipated objectives of healthcare services. Targeted care according to the actual needs of the patients is the major aspect of the risk-based contracting that allows healthcare providers to adopt effective practical measures ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"dGsCL1Ty","properties":{"formattedCitation":"(Hurley, Grossman, Lake, & Casalino, 2002)","plainCitation":"(Hurley, Grossman, Lake, & Casalino, 2002)","noteIndex":0},"citationItems":[{"id":1109,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/RSEHCZEV"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/RSEHCZEV"],"itemData":{"id":1109,"type":"article-journal","title":"A longitudinal perspective on health plan–provider risk contracting","container-title":"Health Affairs","page":"144-153","volume":"21","issue":"4","author":[{"family":"Hurley","given":"Robert"},{"family":"Grossman","given":"Joy"},{"family":"Lake","given":"Timothy"},{"family":"Casalino","given":"Lawrence"}],"issued":{"date-parts":[["2002"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Hurley, Grossman, Lake, & Casalino, 2002).

In a nutshell, it is necessary to indicate that the method of risk-based contracting is the opportunity to consider the risk factor and implement better trends of cost and healthcare services for patients. Adoption of the value-based care and suitable form of innovation are necessary practical measures to achieve the actual target of the payment reforms. The framework of risk-based contracting can be used to minimize the overall cost of healthcare practices. Identification and proper engagement at risk-patient is the first step that assists to assess the possible options of improving healthcare services.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Hurley, R., Grossman, J., Lake, T., & Casalino, L. (2002). A longitudinal perspective on health plan–provider risk contracting. Health Affairs, 21(4), 144–153.

McFarland, S. (2019). Three Essentials Providers Need for Risk-Based Contracts. Managed Healthcare Executive, 29(5).

Mühlbacher, A. C., Amelung, V. E., & Juhnke, C. (2018). Contract Design: Risk Management and Evaluation. International Journal of Integrated Care, 18(1).