Privia Health

Victoria Bianco is leading the care center transformation team at Privia Health, with a firm dedication to facilitating education and engagement of providers around population health and helping them achieve success in value-based care. As a key member of the company, she is entrusted with empowering healthcare providers with the right resources to facilitate the journey from the traditional fee-for-service model to value-based care, building a better healthcare delivery system.

In an interview with MedTech Outlook magazine, Victoria sheds light on her perspectives as a leader in the value-based care world and its profound impact on healthcare delivery and patient outcomes.

When it comes to the value-based care space, what challenges do you observe in the marketplace today?

As the healthcare industry shifts towards value-based care, organizations face numerous challenges in the marketplace today. Health systems, physician practices, and other healthcare organizations are grappling with the transition from the traditional fee-for-service model to the value-based care paradigm. The key challenge lies in truly understanding what value-based care entails and how to adapt care delivery to thrive in this new landscape.

Providers need help to grasp the real impact of value-based care on their patients. They are primarily focused on patient care and may lack the guidance needed to balance patient care with the business aspects, such as working with payers, analyzing patient data, and identifying cost-saving opportunities for high-risk patients.

Any emerging trends that can help overcome these challenges in value-based care? How is Privia Health addressing these challenges?

The trend is to reconcile the fact that value-based care is different from the traditional fee-for-service model. The reimbursement should align with value-based care principles to incentivize providers to prioritize care quality. Measuring patient outcomes and rewarding providers based on those outcomes is crucial for achieving cost reduction, improved patient experience, and better patient outcomes. Transitioning to downside risk contracts in value-based care may pose challenges, as providers are accustomed to the fee-for-service mindset. 

"Investing in clinical leaders and providing them with formal leadership training is crucial for a successful transition to value-based care. "

That’s where we have served. As partners to providers, we take on the role of monitoring and educating them on these opportunities, enabling them to truly concentrate on patient well-being and adjust their care delivery to embrace value-based care. 

Through our high-performance (Privia Medical Group) physician group, (Privia Quality Network) accountable care organization, and population health management programs, Privia works in close partnership with forward-thinking health plans and national payers to better align reimbursements to quality and outcomes.

Please walk us through the strategies that individuals or organizations should employ to provide a seamless experience in value-based care.

Providing a seamless experience in value-based care requires engaged providers who are willing to understand the strategies involved from the payer’s perspective. Organizations need to adapt workflow processes and provide comprehensive education to all individuals within the practice who impact patient visits and experiences. 

Investing in clinical leaders and providing them with training and tools to be effective leaders is essential. These leaders can effectively engage other non-providers, educate them on the “why” behind value-based care, and inspire behavior change within their practices that can impact patient visits and their experiences.

Could you highlight any particular project initiative Privia Health has taken to improve value-based care?

Engaging clinical leaders and providing them with formal leadership training is crucial for a successful transition to value-based care. We realize that for us to have these expectations out of our clinical leaders who are full-time practicing clinicians, most of the time, they do not get any type of formal leadership training. 

 A notable initiative we have undertaken to enhance value-based care is the development of our clinicians as leaders. We have implemented a 12-month formal leadership training program. This program equips clinical leaders with essential skills, such as effective communication, accountability, and outcomes-driven decision-making. They engage in projects within our organization to address specific issues and provide practical solutions, ensuring the application of their learning in real-world scenarios.

How do you envision the future of value-based care in the healthcare space?

Looking ahead, Privia Health is poised for continued growth in the healthcare space. As more attention is directed toward value-based care and increased participation within the healthcare industry, we anticipate the emergence of new areas that our organization will need to invest in. The core elements of cost reduction and improved patient outcomes and experience will remain crucial.

One area of growing importance will be addressing social determinants of health. Organizations will need to address these factors by providing appropriate resources to patients who are experiencing barriers to accessing care. It will be really intriguing to see how organizations handle these aspects and incorporate them into their value-based care strategies.

What would be your advice to aspiring professionals in the field? 

For aspiring professionals in the field, my advice is to recognize the significance of peer-to-peer conversations among clinicians. Engaging in productive discussions about industry trends, future directions, and areas of focus can be incredibly effective.Investing in and acknowledging clinical leaders who can carry the banner of value-based care with you is vital to gaining buy-in, building trust, and fostering a culture of behavior change among providers.