Preparing for the inevitable
The path to physician success in a value-based world
How are physicians faring in the inevitable shift to value-based care? The Deloitte 2014 Survey of U.S. Physicians examines current and expected levels of VBC engagement by physicians, and details what resources, capabilities, and skills physicians think could help put them on a path to success.
Perspectives from the Deloitte 2014 Survey of U.S. Physicians
The evolution of the U.S. health care system from volume- to value-based care (VBC) is under way, spurred by unsustainable costs, a push for improved outcomes, and the desire for more value for money spent. While this evolution impacts all health care stakeholders, VBC cannot work without the participation of physicians.
How are physicians faring in the inevitable shift to a value-based world? What resources, capabilities, and skills do they think could help put them on a path to success in VBC?
The Deloitte 2014 Survey of U.S. Physicians examines physicians’ current and expected levels of VBC engagement and what physicians feel they need to be more confident about their participation. This report provides important insights for physicians and health organizations (health systems, hospitals, health plans, and other stakeholders) partnering in VBC initiatives:
- Path to VBC success – Physicians want to acquire or increase their VBC skills and business knowledge, and expand their use of health information technology (HIT). From their health organization partners, physicians want expanded clinical support capabilities, greater use of HIT, and access to non-physician staff. Physicians also seek value-based payment models that are structured fairly, protect their financial interests, and support the physicians in managing risk.
- High recognition that change is afoot – Physicians expect about 50 percent of their compensation in 10 years to be value-based; they are aware that the shift to VBC is happening and inevitable.
- Reluctance to participate – Physicians prefer status quo in their work setting and how they are paid, and they are concerned about the consequences of financial risk (e.g., being held accountable for things out of their control).