Since the 1930s, with the creation of Blue Cross Blue Shield, the United States healthcare system has revolved around fee-for-service (FFS) payments. In this model, doctors receive payments based on the number of services they provide rather than the quality of care they give to their patients. Though FFS is widely known to increase healthcare spending while overlooking patients’ health, it remains the main payment method, accounting for more than half of healthcare payments in the United States.
While FFS is the norm, it is not the payment method that reflects the wants and needs of patients. When it comes to healthcare, patients desire a human connection with their doctors, a healthier lifestyle, and – most importantly – they want to be involved in the decision-making process.
However, none of these things are possible when a doctor is forced to move at a fast pace because they are preoccupied with seeing the volume of patients needed for their practice’s survival.
Giving patients the care they deserve requires a passion and vision to transform the healthcare system from one that is predominantly FFS to one that follows the value-based care (VBC) delivery model. With VBC, patients are given the time and attention needed to live healthier, better lives.
VBC adoption still has a long way to go, so how do we keep that transition going? We start by shifting our mindset.
According to Will Weisman, Founder and Managing Director of KittyHawk Ventures, and an early investor in Vytalize Health, mindset is the lens through which one looks at themself and the world. The way in which a person views their world becomes their reality. The first step in creating a healthcare system that puts patients first is believing it is possible.
Weisman believes that technology is a force for good. While it can be daunting, technology provides better outcomes by enabling care tailored to each patient. At Vytalize, technology allows for personalized medicine, 24/7 concierge-like health services, and digital tools that monitor health measures like blood pressure and glucose. Technology can improve outcomes exponentially; it also allows patients to get involved in their own care, empowering them to live healthier lives.
When asked how Vytalize Health can continue to thrive, Weisman noted that building a team of individuals who believe wholeheartedly in the mission is crucial in making a profound impact on patients’ lives. Continuing the transition to value-based care requires working and partnering with those who are just as focused on creating a healthcare system that truly addresses the needs and wants of patients.
We are now living in the best time for health outcomes, but we must “fight really hard to create the [healthier] world we want.” Vytalize Health is fighting by accelerating value-based care for providers and patients, enabling providers to get back to what they love about practicing medicine and helping patients achieve their health goals.