President Joe Biden has big plans regarding healthcare, beginning with tackling the pandemic. Yet, he has already confirmed that he plans to address Medicare and Medicaid eligibility, unforeseen billing, medication prices, value-based healthcare, and more while is in office.

The rest of the work will be done by the HHS and CMS rules, which ensures that providers are in for a number of regulatory changes in 2021, which are likely to have a huge impact on how they go about their everyday business. A common priority is expected to be policies that affect existing value-based pricing structures and future possibilities for the new administration and suppliers themselves to step away from fee-for-service.

Fee-for-service was not the ideal healthcare finance system as the pandemic turned into a health crisis. Providers were forced to close along with communities closing down, causing sales to drop by fifty percent or even more after the pandemic. However, value-based contract providers were better likely to deal with the decline in patient numbers and develop novel care pathways, such as telehealth, for example.

Value-based plans do not rely on patient treatment numbers or services provided, meaning that clinicians retain access to payment even when volumes are small even as clinics switch to virtual care approaches.

Leaders will actually be more interested in value-based contracts and the stability they offer to develop better organizations in the future. The current administration will undoubtedly have full assistance for the implementation of novel value-based pricing mechanisms for suppliers to pursue.

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