blog November 29, 2018
How Integrated Research Organizations (IROs) Support Value-Based Healthcare
For the past few years, value-based healthcare has been on everyone’s mind. The shift away from fee-for-service and towards value-based payment models in healthcare isn’t happening overnight, but there is a steady growth of momentum as more and more providers and health systems make the change to value. What are the opportunities as we consider driving more value into the R&D value chain?
Javara’s integrated research organization (IRO) model fits seamlessly within any value-based care system because of our shared focus on the quality of each patient’s care experience. Let’s take a closer look at how providers and health systems can benefit from partnering with Javara.
Why Value-Based Care?
With value-based care, providers are paid based on quality rather than quantity. The payer (whether Medicare, Medicaid or a private health plan) takes into account patients’ health outcomes and other factors when calculating reimbursement, rather than paying a set fee based on services rendered.
55% – Hospitals that received value-based payments in 2017
37% – Current number of payments processed under the old, fee-for-service model (expected to drop to 26% by 2021)
$5.7T – Estimated amount of national healthcare expenses by 2026
These value-based reimbursement models incentivize providers to collaborate on a patient’s care, reducing duplicate testing and treatments while improving the quality of care. By achieving key quality measures (such as reducing hospital readmissions), providers can increase their reimbursement levels. In the meantime, patients receive better care, leading to improved health outcomes and lower out-of-pocket costs.
How Javara’s Goals Align With the Value-Based Healthcare Model
At Javara, some of the goals we’re most passionate about align perfectly with the core purposes of value-based care:
- Expanded access: Our model provides a high-touch patient experience that strengthens the bond between patient and physician and opens new doors to the latest treatment options.
- Improved value: Offering clinical trials as a care option typically results in lower costs for both providers and patients.
- Advancing humanity’s health and well-being: While finances often dominate the conversation around healthcare, this is really the heart of what we’re all doing: improving individuals’ well-being by providing the right treatments and empowering them to take control of their health.
How Javara’s Integrated Research Organization Model Supports Value-Based Care
Javara’s innovative Integrated Research Organization (IRO) model is centered around making clinical research and clinical trials more relevant and accessible for all. We do this by embedding clinical research into the continuum of care and presenting trials as a care option for patients to consider.
Here are a few ways our model aligns with the strategic goals of value-based healthcare systems:
- Improved health outcomes—Research has shown that participating in a clinical trial often leads to better patient engagement, lower readmission rates, and improved outcomes.
- Population health benefits—Clinical trials and value-based care both thrive in population health settings. When you’re able to activate a larger patient population in a clinical trial, it can have an exponential effect on meeting quality measures and reimbursement benchmarks.
- Embedded experts and resources—The switch to value-based care can provide a steep learning curve for physicians and support staff, leaving little time to learn about and manage clinical trials. With our on-site clinical trial navigators, health systems are able to offer the latest treatment options without the administrative burden of managing the trials themselves.
Javara and You
We developed our integrated research organization (IRO) model to work seamlessly with accountable care organizations (ACOs) and other value-based care organizations. With Javara, you gain a powerful partner to help increase patient engagement and satisfaction, provide the most advanced treatment options to your patients, lower per capita healthcare costs, and play a key role in improving health outcomes and bringing new therapies to market.
Taking the First Step
Ready to learn more about how Javara’s Integrated Research Organization (IRO) model can benefit value-based care organizations?