Due to the financial fallout caused by COVID-19, many practices are struggling to keep their doors open. What options to physicians have? This expert says hope lies within value-based care.
Physicians are facing a crisis. Many are dealing with the possibility of closing their practices as they deal with financial fallout of COVID-19. So what can physicians do to save their practices and treat their patients effectively? Farzad Mostashari, M.D., former director of the Office of the National Coordinator for Health IT and current CEO of Aledade, says physicians should embrace risk.
And by risk, he means value-based care. Mostashari contends that the fee-for-service system has exacerbated these financial struggles and that the way forward is to accelerate the evolution of how physicians are paid for providing care. Medical Econimics recently interviewed Dr. Mostashari on value-based care, telehealth and what the ideal practice of the future should look like.