Value-Based Care Agreement
The success of value-based contracts depends on several factors, including each party`s ability to use sufficient risk against potential benefits if the desired results are achieved. The following value-based contracts have been used to establish this balance sheet. ConvergeHEALTH Patient Connect aggregates patient data from multiple sources and connects all stakeholder data into a single view for all patient interactions. It enables the addition and coordination of care, the implementation of digital therapies, the improvement of patient outcomes and the assistance to healthcare providers in managing patient care using our regulated applications and devices. Such contracts can provide support wheels for larger joint savings contracts. Paid incentives for performance can be used with a variety of payment models, ranging from fee-for-service to bulk payments. They may include efficiency measures (e.g. B total cost of care, readmission rate), but generally use quality measures that must be adhered to before receiving financial incentives. The risk is modulated according to the share of performance ratios in total turnover. Companies should also consider whether they are able to cope with the redistribution of resources and potential additional costs in order to implement a comprehensive value-driven program that could lead to downstream savings on improving patient outcomes.  This involves assessing the existing infrastructure and its ability to respond to the specific requirements of a value-based contract. Infrastructure issues focus on the ability to identify and define a way to track product usage and patient outcomes and to provide financial support to providers/patients who use the Life Sciences product (if applicable).
 Data analytics is an essential part of a value-based payment agreement, which allows providers to better understand their patients, including all interactions with the healthcare system. In addition, the data is used to determine performance improvements. As the healthcare industry moves from volume to value, value and risk management strategies converge and create opportunities for payers, providers and life sciences companies to cooperate and integrate skills.