July 29, 2024- The need for more collaboration in healthcare is increasing as Americans experience greater levels of chronic conditions than ever before. An estimated 129 million people in the United States have at least one chronic condition, according to the Centers for Disease Control and Prevention (CDC). Common chronic conditions include heart disease, diabetes, hypertension and obesity – to name a few. The CDC reports that nearly half of those – or about 54 million people – with chronic conditions have more than one.
The idea of a more connected approach to healthcare with a greater emphasis on patient outcomes is part of an emerging healthcare landscape called value-based care, according to Cardinal Health. And, according to a McKinsey report titled, “Investing in the new era of value-based care,” it’s a distinctly fast-growing model. In fact, McKinsey reports that value-based care may be on track to reach $1 trillion in enterprise value as it matures.
The Centers for Medicare and Medicaid Services (CMS) reports that value-based care not only has the potential to improve patient outcomes, it can advance health equity in a number of ways by focusing on personalized treatment plans, encouraging screening for social determinants of health and connected people to resources like food banks and transportation services. It’s also playing a role in tracking outcomes across populations to identify disparities.
In a value-based approach to a person’s care, everyone is responsible for that patient’s health outcomes – from the physician to the insurance provider, all the way to home medical equipment suppliers (HMEs) like Cardinal Health at-Home Solutions. HMEs provide the supplies a patient needs to manage long-term conditions from home, whereas a pharmacist may supply medication and other services and supplies to support patient needs.