01/09/2018
Dr. Choo began 2018 with the year’s first Leaders Speak on WorkCompWire. Here’s an excerpt:
The future of the Patient Protection and Affordable Care Act of 2010 is presently uncertain, but our healthcare industry’s steadfast exploration of value-based care models to achieve better outcomes is encouraging.
Although the workers’ compensation industry has always operated independently from mainstream healthcare, issues afflicting the private and government healthcare sectors profoundly impact workers’ compensation.
Similar to Medicare, the workers’ compensation industry’s responsibility for lifetime care creates incentives to facilitate injured workers attaining the best clinical and functional outcomes from any injury, and especially subsequent to catastrophic and/or complex injuries. Taking a longer-term holistic-care approach to recovery care management by measuring and rewarding clinical outcomes, rather than just clinical activities, will improve quality of care and reduce the long tail of lifetime claims costs.
As the Chief Medical Officer of Paradigm Outcomes, I’ve witnessed firsthand how guaranteeing a clinical outcome at a fixed price for catastrophic and complex workers’ compensation claims aligns everyone’s goals to focus on achieving injury recovery and claim management. This value-based care approach essentially is to function as an Accountable Care Organization (ACO) that is proficient in managing our unique population of injured workers with catastrophic and complex injuries.
There are four elements that are crucial to successful value-based care:
Read the entire article here.