A 2023 report from insurer Humana shows that Medicare Advantage patients receiving care through value-based arrangements spend more time with their physicians and have better care outcomes than their non-value-based counterparts.
Physicians working under value-based care models are also more empowered and better positioned to coordinate patient care and prioritize outcomes over service quantity, according to a Nov. 15 press release.
Value-based care models reimburse physicians for the quality of care they provide, rather than the quantity of patients they see.
Humana looked at data; research; analysis; and patient, member and physician testimonials on value-based care to compare it to traditional fee-for-service models.
Humana's report found that patients receiving value-based care have grown by 2.3 million over the past decade. It found that value-based care patients have 30.1% fewer hospital admissions compared to original Medicare beneficiaries.
Value-based care patients also saw a 23.2% cost savings compared to original Medicare, averaging $527 in savings annually per patient.
Despite the report findings, less than half of primary care physicians in the U.S. receive payments through value-based care arrangements.