01 Aug Building Better Benchmarks: Principles for Sustainable Benchmarking in Value-Based Care
The Health Care Transformation Task Force developed Principles for Sustainable Benchmarking in Value-Based Care, a resource that seeks to (1) align payment with the goal of delivering efficient, high-quality, equitable, and patient-centered care, (2) support ongoing investment in care delivery innovations, and (3) offer actionable steps for achieving predictable and sustainable long-term health care spending trends.
The Task Force believes advancing the adoption of value-based care (VBC) is critical to achieving sustainable improvements in health care in the United States. Successful VBC models are built on benchmarks that establish cost and quality targets, measure progress, and align incentives for health care providers. Creating sustainable benchmarks is challenging but essential for VBC success. This resource, which outlines five key principles for achieving effective benchmarks in value-based care, was developed in collaboration with members, including health care providers, payers, patient advocacy groups, purchasers, and VBC partner organizations.
The five principles outline a vision for VBC benchmarks that are:
- Collaborative: VBC benchmarks should be designed collaboratively with input from providers, payers, and patients. Clear pathways for stakeholder input and sufficient time for reviewing proposed methodologies are crucial.
- Transparent: VBC benchmarks should be transparent to all stakeholders. Clear and objective criteria, publicly available methodology, and access to benchmark data are necessary for participants.
- Sustainable: VBC benchmarks should be financially viable for payers, providers, and patients in the long term. Consideration of practice size, reasonable spending targets, and accounting for ongoing investments are important factors.
- Outcomes-Based: VBC benchmarks should align with policy goals and focus on patient outcomes. Engaging stakeholders, using standardized performance measures, and sharing data and analytics are key drivers.
- Risk-Adjusted: VBC benchmarks should be risk-adjusted to account for variations in patient populations.