Population Health Management is Booming
We’ve been reading a lot recently about how health plans are turning to Population Health Management (PHM) to improve care quality and reduce costs. PHM involves identifying at-risk populations and working with providers on tailored outreach, which often includes preventive care and early intervention.
Wellness programs are a critical component of PHM.
Grand View Marketing, a market research and consulting firm, predicts that the PHM market will triple by 2025. The report calls PHM “the best option available to reduce expenses and contain high-cost medical care.”
Role of the Affordable Care Act
The growth in Population Health Management is largely spurred by the Affordable Care Act (ACA), which specifically called for the improvement of population health outcomes. To verify their value-based reimbursement and care, health plans are investing in tools and methodologies to measure and improve financial and clinical outcomes.
A separate study, funded by Robert Wood Johnson Foundation, found that an increasing number of health plans and provider systems are willing to invest in PHM strategies because “they are necessary to improve quality and cost outcomes and to respond to payer performance expectations.”
The Johnson study found that the most successful initiatives shared collaborative strategies across health plans, provider systems, and other partners. Fortunately, wellness providers like WCS are already well-versed in working with a variety of stakeholders.
The Future of Population Health Management
We’ve all heard the new president’s promises to repeal and replace the Affordable Care Act. Although no one knows what repeal would look like, we do know that health care costs aren’t going anywhere. I’m confident that efforts like Population Health Management—and wellness in general—will continue to be a powerful force in the years to come.