The Benefits of Value Based Care | Wayne Emerson Gregory Jr., SC

Value-based care is a healthcare payment system that focuses on the quality of care rather than the quantity of it. It involves establishing a system of accountability and ensuring that providers provide the best possible care. This method differs from fee-for-service models, where the number of tests and services is based on the quantity of care that a provider provides.

A provider’s prices are established based on the historical prices they have achieved and their physicians’ performance. This method emphasizes the importance of taking the time to provide the best possible care to each patient. VBC comes with many benefits for healthcare organizations and patients alike.

Greater Efficiency and Patient Satisfaction

VBC models aim to provide the best possible care to each patient. This method requires providers to develop long-term relationships with their patients and ensure they provide the best possible care. Aside from being more efficient, this method also eliminates the financial risk providers face due to implementing capitated payment methods.

Patients Save Money but Receive Better Care

Instead of relying on the number of services a provider provides, VBC models focus on the patient’s quality of care. This method eliminates the need for patients to pay for certain services they don’t need. Instead, it focuses on providing the best possible care by developing personalized solutions designed to meet each individual’s needs.

Prices Will Reflect Value of Care

Most healthcare products are priced according to the supply and demand principles, which means that prices are higher than people can afford. However, value-based care models can change prices to reflect patients’ values. This method can also help pharmaceutical companies improve the efficiency of their operations by making it easier for them to price their products according to the needs of their customers.

Healthier Population and Less Risk

Value-based care models aim to help communities and society become healthier. This method does this by reducing the financial risk that healthcare organizations face. In addition to being more efficient, this method also helps healthcare organizations run a more effective revenue cycle.

Despite the various advantages of value-based care models, there are still many challenges that healthcare organizations face when it comes to implementing this method. These include the interoperability of systems and the need to adapt to new models. Regardless, even with the slow pace of change, experts are still optimistic about the future of this method.

About Wayne Emerson Gregory Jr.

Wayne Emerson Gregory Jr., SC is a registered nurse in Georgia specializing in advanced cardiovascular life support, basic life support, and CPR and AED. Wayne also holds a certification in Stroke Scale from NIHSS. Wayne Emerson Gregory Jr. began his education career at Piedmont Technical College, where he earned a degree in Nursing in December 2019. He is currently completing his BSN with The University of Alabama and will graduate in August 2021. Wayne Emerson Gregory Jr. also holds a Bachelor of Arts in Government and Political Science from Furman University and a Master in Public Administration from Clemson University.

Wayne Emerson Gregory Jr. knows that when he is working in healthcare, each patient is unique and deserves to be treated as such. Not only is he dedicated to their physical health, but Wayne also prides himself on caring for the whole individual. Wayne specifically works in the ICU and medical-surgical departments, where he typically sees patients who have experienced trauma or recently had invasive surgery. That’s the time you would want a caring professional, and Gregory Jr. is just that!

Today, Wayne Emerson Gregory Jr. works as the owner of Gregory Equipment Sales in Spartanburg, South Carolina, a role he’s held since 2014.

Wayne Emerson Gregory Jr., SC is a compassionate and committed healthcare professional. He cares deeply about each and every patient and strives to make their experience as enjoyable as possible.

Visit Wayne Emerson Gregory Jr.'s websites to learn more about his thoughts on healthcare, sports, or education.