The move to value-based care has been steady over the past several years, but it's also happened in fits and starts, with hospital executives faced with a tough balancing act when it comes to the transition. Many in the industry are pushing for a full switch to value, even payers, with evidence pointing to cost savings.
Citing the importance of independent physician practices in bringing about the movement toward value-based healthcare, a group of organizations has formed called the Partnership to Empower Physician-Led Care.
PEPC's stated mission is to support value-based care to reduce costs, improve quality, empower patients and physicians and increase access to care through a competitive health provider market.
The organization will focus on education and advocacy to urge action on four policy priorities: advancing physician-led alternative payment models; ensuring an equitable policy framework that promotes choice and provider competition; creating new opportunities for physicians in commercial markets such as Medicare Advantage; and supporting consumer-directed care.
The founding members of PEPC are: Aledade, the American Academy of Family Physicians, California Medical Association, Florida Medical Association, Medical Group Management Association, and Texas Medical Association/PracticeEdge.
"We believe it is impossible to achieve truly value-based care without a robust independent practice community," said Kristen McGovern, PEPC's executive director, in a statement. "Our goal is to ensure that independent practices are recognized as a vital part of the healthcare system and are given a clear path to continue to contribute to this transformation."
Independent physicians make up almost half of the physician workforce, but too often the significant role they play in leading the movement to value-based care is overlooked, the group said. PECP contends that independent practices are able to take risk for their patients, and can lead alternative payment models such as accountable care organizations, often providing higher-quality care and generating more savings than other types of models.