Volume 2 of our Playbook - VBP for Social Care Providers - arrives to kick-off the New Year
To celebrate the New Year, we've released the second volume of our playbook: Addressing the Social Determinants of Health in a Value-Based Payment World.
This second volume builds on what we covered in the first, bringing you through how to identify your potential customers, figuring out what they need, and how to build a compelling value proposition to pitch.
In this volume, we will explore what social care providers need to do to develop a value proposition that is compelling enough that it leads to contract to provide services in partnership with health care. A value proposition is a comprehensive proposal that describes in detail how a social care provider will offer a service.
It’s important to start the value proposition discussion by first noting that there is a big difference between value based contracting and grant- or philanthropic-funded programs. Value-based contracting requires proof of a tangible return-on-investment for the health care partner, while grants need only demonstrate that they will effectively address a public need.
While government and private grants are important and fund vital public services, the opportunity presented by value-based payment is one in which social care providers must demonstrate a value proposition that is compelling enough that a private entity is willing to pay for that service. VBP contracts are agreements between two private entities—both parties must see measurable value (most often measured in financial terms) from the agreement. There are many services that social care organizations provide that are simply not a good match for value-based contracting for this reason. If the health care partner cannot see a measurable return-on-investment, it will be hard for them to enter into a value-based contract for this service.
In this volume we will address the three key elements of developing a compelling value proposition.
We’ve framed these steps as questions for an organization to answer:
Who is your customer?
What does your customer need?
What elements must the value proposition include in order for it to be compelling?
Each of these questions must be answered by a social care provider to be successful in value-based payment.
To get your hands on a copy click here.
