Triangle Business Journal Talks Value-Based Health Care with Smith Anderson’s Industry Leading Health Care Attorney
In the Triangle Business Journal article, “Raleigh attorney: Value-based health care takes a 'leap of faith,'” Smith Anderson’s industry leading health care attorney Bo Bobbitt shares his views on the new value-based health care system with Staff Writer Seth Gulledge. Having worked across the nation with hospitals, doctors and other health care providers for the past seven years transitioning payment models, Bo has been at the forefront of the value-based care model ensuring clients are well informed and able to adapt.
"As disruptive as it is, we just have to rein in health care costs," Bo says. "The current system rewards volume and punishes preventative care and wellness." He adds that North Carolina, which has recently seen the Triangle’s largest hospital systems partner with Blue Cross and Blue Shield of N.C. on a value-based plan, is one of the few states leading the transition.
Bo notes in the article that his experience working with providers has revealed the biggest obstacle is a systematic mentality, one that will require health officials to rethink their business. In addition to the ideological barrier, Bo points out that transitioning requires more time spent per patient, which is potentially costly and an “extraordinarily difficult” suggestion in the current fee-for-service world.
"By far the biggest hurdle to providers is shifting that mentality," Bo says. "How many hospital administrators say 'great lower bed days,' and how many busy physicians are glad to bill less patients in a day?" On advising providers, Bo stresses the importance of understanding the needs and coverage gaps of the target population, finding the right integrated data system and making sure providers truly understand the value proposition of the model before diving in.
Clarifying that it is not so much a “blind leap of faith,” but rather an educated one, Bo says that it is vital for providers and administrators to understand the model. Once systems are in place to support the new model, he believes it will begin to make sense to those trying to find better patient outcomes. “It's the classic American way: you work hard, you get better results at lower costs," Bo says.
Bo’s practice focuses on providing strategic general counsel and regulatory guidance for clinically-integrated hospital and physician organizations, physician-owned Health Information Technology companies, accountable care organizations, patient-centered medical homes, health information exchanges, and nonprofit and professional associations. He is involved in business planning, resolution of complex legal and health policy questions, and advanced negotiations for these organizations. As challenges and questions have mounted about the direction and future of health care delivery, Bo and fellow Smith Anderson attorney Shawn Parker, have compiled strategic guides for physicians and healthcare executives entitled "The ACO Physician's CIN and ACO Contracting Guide" and most recently “The ACO Specialist Manual.”
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