The U.S. health system has often been criticized for putting profits above patients with exorbitant fees and overcomplicated processes that get in the way of keeping people healthy. Value-based care was supposed to fix that, but skewed incentives on the part of some medical providers are getting in the way of changing the delivery of care, according to experts.
When it comes to value-based care, most organizations aren’t going beyond the bare minimum, health experts explained at Fortune’s Brainstorm Health conference in Dana Point, Calif. Tuesday.
While in the traditional system, health care providers are reimbursed for each service they provide, value-based care focuses more on reducing unnecessary costs and the patient experience, usually requiring more involvement on the part of providers. Value-based care was developed as an alternative to the fee-for-service system, which some experts have said fails to provide quality care for all patients.