Maximizing Value-Based Care with Qr8 Cognition Suite: Enhancing Cognitive Health and Financial Rewards
Value-based care (VBC) rewards primary care physicians for proactive and preventative measures, aligning reimbursement to specific health benchmarks and improved patient outcomes. This includes reduced hospital admissions, better chronic disease management, and higher patient satisfaction ratings.
The approach not only incentivizes physicians for providing high-quality care but also shifts attention to long-term health improvements.
Leveraging Shared Risk for Enhanced Value-Based Reimbursement
In shared risk models, payers and providers set budget and quality performance thresholds. If the providers take downside risk, the providers may cover costs that exceed these benchmarks but, with upside risk, can also share in greater savings if costs are less than benchmark. Risk adjustment factors allow practices to receive additional revenue for patients with multiple co-morbidities which effectively raising the benchmark, recognizing the extra resources required to manage these patients.
This presents a significant opportunity for primary care practices to enhance patient care and financial performance, particularly in managing chronic conditions like dementia. Dementia is often underdiagnosed, with an estimated prevalence of 16% to 19%, yet only about 8% of Medicare patients are diagnosed.1 Since these patients are already being managed by the practice, addressing this diagnosis gap can lead to more tailored medical management and substantial financial benefits.
Qr8 Cognition Suite: A Key to VBC Success
Qr8 Cognition Suite offers VBC practices a turnkey digital dementia assessment solution—developed at Cleveland Clinic—to enhance cognitive health management, improving diagnostic accuracy and identifying previously undiagnosed patients with dementia.
The financial opportunity with Qr8 Cognition Suite is substantial, potentially translating to:
- An increase in risk adjustment factor (RAF) of 0.341 for a dementia diagnosis
- An average $2.4 million per 10,000 patients annually in RAF reimbursements
Qr8 Cognition Suite: Driving Success in VBC
Qr8 Cognition Suite is an easy-to-implement, clinically validated digital assessment designed to support cognitive health management, perfectly aligning with the key principles of VBC. It assesses cognitive domains particularly sensitive to early stages of dementia, becoming an essential part of routine primary care visits.
Key Benefits of Qr8 Cognition Suite for VBC Practices
By incorporating Qr8 Cognition Suite into existing workflows, primary care providers can achieve several critical benefits that support VBC goals:
- Increased Revenue: Accurate dementia diagnoses lead to appropriate RAF payments, capturing potential revenue that supports enhanced patient care.
- Improved Care Coordination: Qr8 Cognition Suite provides summary reports that highlight cognitive assessment results and trends over time, enabling the patient’s care team to collaborate effectively and deliver cohesive and comprehensive care.
- Reduced Hospitalizations: Effective management of cognitive health reduces the likelihood of hospital admissions, a crucial factor in lowering overall healthcare costs.
- Sustainable Healthcare Practices: By promoting high-quality, cost-effective care, Qr8 Cognition Suite aligns with VBC principles, fostering sustainable healthcare practices.
Final Thoughts
Integrating Qr8 Cognition Suite into VBC models offers a significant opportunity for primary care practices to enhance both patient outcomes and financial performance. By addressing the gaps in dementia diagnoses, this patient-friendly digital cognitive assessment supports better health outcomes for patients and drives sustainable, high-quality care. Additionally, the financial incentives tied to accurate diagnoses and the ability to manage shared risk effectively further align Qr8 Cognition Suite with the principles of VBC, ensuring that practices are rewarded for their commitment to proactive and preventative health management.
Are you a physician in a VBC practice? Let us show you how Qr8 Cognition Suite can help boost patient well-being and practice economics. Schedule your quick demo today.
