Key Trends in Value-based Care of Oncology

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Key Trends in Value-based Care of Oncology
In the healthcare industry, Value-based
healthcare is the new delivery model in which
care providers, including hospitals and
physicians, are rewarded for helping patients
improve their health and are paid based on
patient health outcomes. This model has great
adoption in the Oncology for delivering holistic
patient care while driving sustainable cost
savings. In this model participating practices
need to track and report on a vast array of new
measures related to care quality, cost, and
patient outcomes. These programs, such as
the Oncology Care Model (OCM),  offer financial
incentives to participants as well as practices
that are compelled to develop and deploy new
capabilities for patient care. However, Most
Oncologists are optimistic about the beneficial
potential of value-based care until they observe
a conflict between the need to decrease episode
costs and the rising prices of the most
innovative novel therapies. Hence new trends are
emerging in value-based care of Oncology Cost
of drugs Rising drug costs including promising
but expensive novel therapies as the challenge in
the era of value-based care make practices
financially accountable. Also, continuous rising
drug costs as a priority issue impacting the
overall wellbeing of practices.
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Key Trends in Value-based Care of Oncology
New approaches to the treatment of
cancer Oncologists are choosing treatment
regimens under value-based care programs where
they are accountable for the cost of entire
episodes of care as well as about drug choices,
compared to their approaches during the
fee-for-service era. The oncologist is remaining
committed to delivering the best clinical
outcomes while choosing a drug for an individual
patients treatment regimen irrespective of the
impact on episode cost. Cooperation among
various stakeholders under the value-based care
model The value-based care model is driving the
need for cooperation among providers, pharma, and
payers. This cooperation enables Oncologists to
match the right treatments with the right
patients under the value-based care model. The
oncologist is looking for help to figure out how
to optimize treatment decisions for the new
landscape. The emergence of care pathways A
care pathway which is a multidisciplinary
healthcare management tool based on healthcare
plans for a particular group of patients in which
the different tasks or interventions are involved
by the professionals in the patient care with a
predictable clinical course. Care pathways will
play a pivotal role in Value-based care model and
there is a need for active use of care pathways
by integrating them into value-based
reimbursement models.
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Key Trends in Value-based Care of Oncology
Precision Medicine Precision medicine is an
approach to patient care that allows doctors to
select treatments that are most likely to help
patients based on a genetic understanding of
their disease. This approach ultimately resolves
the growing tension between drug costs and will
act as a key to the appropriate use of novel
therapies for cancer in the future. Rising
Patients awareness Nowadays, traditional
referral patterns are disrupting as patients are
becoming more independent. Moreover, various
factors that are driving this patient
consumerism, including a growing price
sensitivity by consumers, increased access to
healthcare information that they can use for
their decision-making and rising expectations
for services and subsequent changes like the
physician-patient relationship. Medical Billers
and Coders (MBC) providing Oncology coding and
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US. Our expert team has years of expertise in
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