By Shaun Priest
Annual Wellness Visits (AWV) are not only wins for Patients, Providers, and Payors, but have positive financial impacts for healthcare organizations, independent practices, hospitals, health systems, and accountable care organizations. This could be a Win-Win-Win-Win-Win-Win!
Patient Wins! To quote our Founding Father, Ben Franklin, “An ounce of prevention is worth a pound of cure”. For patients, proactive and preventive care lead to better outcomes. Additionally, you the patient become an active member of your healthcare, including building a relationship with your primary care provider.
Provider Wins! To quote, legendary American author, Mark Twain, “Continuous improvement is better than delayed perfection”. As our country makes the slow transition from fee-for-service to fee-for-value, Annual Wellness Visits support both programs, including assisting in this inevitable shift. On the fee-for-service you get fees for each visit; for fee-for-value you will have healthier patients managing their health; and there are multiple incentive programs for Annual Wellness Visits. Additionally, you build relationships with your patient panel, including empowering the patients.
Payor Wins! To quote legendary investor, Warren Buffet, “Price is what you pay, Value is what you get”. As payors analyze their overall costs to manage the health of a population, investing in Annual Wellness visits reduce their overcall costs by preventing or reducing the expensive treatment of chronic diseases. Additionally, the members get the benefits from annual wellness visits.
Lastly, with Amazon’s recent acquisition of One Medical, I believe Amazon is betting on this win-win-win strategy. One Medical is a U.S. national human-centered and technology-powered primary care organization with seamless digital health and inviting in-office care, convenient to where people work, shop, live, and click. One Medical’s vision is to delight millions of members with better health and better care while reducing costs, within a better team environment.
About the Author: Shaun Priest, brings over 30 years of Healthcare Information Technology experience in management, sales, business development, marketing, support, and project implementations. Starting his career installing electronic health records at both Meditech and Cerner. Shaun has patient engagement experience with Clearwave and Medseek, plus revenue cycle with Streamline Health. Today, Shaun is Chief Revenue Officer with ReportingMD, a value-based-healthcare and population health company.