Traditional fee-for-service models of healthcare funding are quickly changing to funding for value-based care. That makes patients more than just a number and dollar sign for funders and providers alike. To prove the value of care, funders require clear data throughout the patient journey. Digital health solutions can help provide exactly that.
The Changing Landscape of Healthcare Funding
Previously, funding for healthcare was largely based on the number of services provided. More services provided meant more revenue generated. But thats shifted. Now, funding is largely based on patient outcomes, showing a marked shift toward value-based care.
As a result, data now plays a key role in healthcare decisions to provide funders with clear, measurable evidence of care quality. For instance, they can look at Patient-Reported Outcome Measures (PROMs) and Patient-Reported Experience Measures (PREMs) to track improvements in patient care from referral to post-treatment follow-up.
One way healthcare facilities are improving patient experiences is by offering alternative payment methods (APMs). This includes bundled payments and shared savings programs. Digital health platforms help you track outcomes for APMs.
Why Funders and Payers Prioritise Digital Health Solutions
Funders and payers prioritise healthcare facilities with digital health solutions as they enable clear and up-to-date information regarding patient care. Here are a few key reasons for this prioritisation: