What’s New at Therapy Partners?? Lots
Hi Therapy Leaders
Total Cost of Care Data
Over the past month, Craig has been analyzing and consolidating thousands of cases of total cost data that we received from a health plan in one of the states where we are working. (That’s 3 commercial plans and a work comp TPA that have provided us cost data). It’s ‘eye-glazing’ work, but the results of the 21 months of data are ‘eye-popping’ encouraging! Essentially – the earlier that patients start physical therapy, the lower the total costs. Additionally, the cost data casts a very impressive light on the independent network. Valuable proof of something we all have known for years.
Meetings with Powerful Decision-Makers
Last week Craig and I shared our analysis of that total cost data with the medical director of the health plan and a few days later I met personally with him. Great experience! He and his team get it. They see independent physical therapists as a solution to rising health care costs, and we are now working on a value-based pilot with the plan and the tremendous network of private practices in that state. FOTO will be a key aspect of the pilot, and it is critical that the clinics achieve high-level value (utilization) outcomes. We call it the “80/40/20 Goal”: > 80% High + Expected > 40% High and < 20% Low. Is that goal achievable? Absolutely. That will be impressive and will provide proof of the value of their network of clinics, and will lead to success in the pilot.
This week, Craig and I met with a health plan here in the upper Midwest. Another great experience. The plan’s team members are using 2014 and 2015 to gather information and analyze potential value-based models, and they will be ready to make the change to value with health care providers – including physical therapists – in 2016. They were very impressed with the information we provided to them that proves physical therapy value and offers a practical solution to a their expectation of providers to deliver Triple Aim Value. They asked our Therapy Partners team to provide them FOTO outcomes data, and work with them to determine value-based models to help control and manage ‘ortho spend’.
Building trusting relationships with these powerful decision-makers is critical.
The transformation is well under way. Volume – fee for service – is being phased out. Value is being phased in. The transition is slow, but it is moving. I think we will see more value-based models for physical therapists in 2015, but the real shift will be in 2016 – 2017.
Are you ready??
Here’s my suggestion to take a proactive approach to the Volume to Value Revolution . . .
- FOTO. If you are not using FOTO, start NOW!
- Impressive FOTO Outcomes. Immediately get to work on elevating your outcomes – go for “80/40/20”
- Lead Change. Work with your team – contribute to your team. This is change, and change does not come easy. Leaders drive change for success.
- Build a High Performance Team.
Shared Purpose Involvement Commitment Communication Trust Efficiencies Improvement
Work with your team. Lead your team. Develop your people.
- Build Relationships with Health Plan Decision Makers. Be proactive. Meet with leadership of health plans who make the decisions. Build a relationship. Show your outcomes. Develop innovative model options. Propose them to the plan. Take ACTION.
If you have questions or comments – drop me an email email@example.com
We can help you with FOTO implementation/training and leadership development.