Last month, we shared insights with Dr. Neil and Dr. Jubelt, highlighting the importance of a patient-centric approach and collaboration to advance a shift towards value-based care.
In this edition of our Healthcare Voices series, we met with two healthcare leaders, Dr. Charles Smith and Dr. Boris Vabson, to explore their distinctive viewpoints on value-based care and the pivotal role of technology in reshaping the healthcare landscape.
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Dr. Charles Smith Dr. Smith currently serves as Chief Medical Officer for AON Health Solutions. He is a past Board Member for NBGH’s Institute of Health, Productivity and Human Capital and former Chief Medical Officer at Cigna. |
Dr. Boris Vabson Dr. Vabson serves as a Research Faculty Member at Harvard Medical School and is a nationally recognized health economist, as well as a Nonresident Fellow at the American Enterprise Institute. |
In healthcare today, the move towards value-based care is challenging, yet filled with opportunities for innovation and improvement through technology, data analytics and patient-centered strategies.
Dr. Smith brings a boots-on-the-ground perspective to the table with an emphasis on the importance of technology in enhancing patient engagement and outcomes by providing tools for better communication, personalized care, and efficient health management.
According to Dr. Smith, "Technology has to keep up with and evolve to where we are able to accommodate [patient needs]." His pragmatic approach shines a light on successful collaborations and initiatives, navigating treacherous terrain with a trusty technology whip in hand. Innovations like telemedicine, wearable health monitors and mobile health apps empower patients to take active roles in their health, leading to improved adherence to treatment plans and better overall health outcomes. Additionally, technology facilitates real-time data sharing and remote monitoring, allowing healthcare providers to offer timely interventions and support.
Dr. Vabson offers a similar yet distinctive strategic perspective on value-based care. From his vantage point as a research analyst, he delves into the intricacies of data analytics and measurement methodologies. "A lot of the elements of value-based care that have been adopted sound good in principle," Dr. Vabson notes, "but how they perform in the real world is a different question."
So far, Medicare Advantage is proving to be a successful value-based care model due to a comprehensive approach that includes preventative care, chronic disease management and coordinated care services, often leading to better patient outcomes and lower healthcare costs. Dr Vabson believes that non-clinical data, or social determinants of health data, is a key element to help health plans provide targeted care and support to higher need populations who are typically less engaged with the healthcare system.
While Dr. Smith and Dr. Vabson approach value-based care from different angles, their perspectives converge on a common goal to promote health equity. They offer these tips to healthcare providers: keep it simple and actionable. When it comes to addressing social determinants of health, it’s vital to focus on the most simple and actionable tasks first. Each patient has a unique set of social needs, emotional and medical needs which should be considered in their care plan and data analytics can provide a holistic view. However, it becomes necessary to take one step at a time, it’s a marathon not a sprint.
As technology continues to evolve and shape the future of healthcare, their insights offer valuable guidance for navigating the maze of value-based care.
The journey through value-based care is filled with twists and turns, challenges and opportunities. By embracing technology, data analytics and patient-centered approaches, healthcare providers and analysts alike can chart a course towards a brighter, healthier future.