Fort Myers, Fla, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Since 2016, Florida Cancer Specialists & Research Institute (FCS) has been a national leader in the transition of oncology care from a fee-for-service (volume) reimbursement structure to fee-for-value (quality). Value-Based Care (VBC) and similar Alternative Payment Models (APM) have rapidly evolved over the past several years and are a foundational tenant of the Oncology Care Model (OCM), a national innovative payment program launched by the Center for Medicare & Medicaid Innovation (CMMI) in July of 2016. VBC relies on shared accountability among providers, optimizing better outcomes for patients and lowering overall healthcare costs for all stakeholders across the value chain.
FCS has an established and consistent history of providing leading-edge, exceptional value-based care across the continuum of care, often outpacing industry benchmarks and targets published by CMMI. “We consistently demonstrate VBC performance success and positive outcomes with Medicare and many commercial and Medicare Advantage payers. These relationships have yielded not only improved patient satisfaction, but significant shared savings and cost effectiveness, improved quality measures and patient outcomes, which is our ultimate goal as a leading provider of oncology care,” stated FCS Chief Executive Officer Nathan H. Walcker.
In a recent evaluation, empirical data indicates FCS decreased emergency room visits not resulting in an admission or observation stay by 18% and decreased inpatient hospital admissions by 15% from 2017 – 2020. FCS has outperformed many other practices participating in OCM in the same patient risk quartile for both emergency room visits not resulting in an admission or observation stay and inpatient admissions by -19.6% and -5.1% respectively. The practice has also outperformed CMS’ expected cost benchmarks for multiple consecutive performance periods, underscoring the scalability and efficiency of FCS’ model. FCS has concurrently demonstrated value-based outcomes partnering with commercial payers throughout the state of Florida. The practice similarly reduced ED utilization by 14.9% with a consistent year over year decrease between 2016-2020.
“FCS has the singular goal of providing the best patient-centric care possible,” added FCS President and Managing Physician Lucio Gordan, MD. “ Our VBC program incorporates real-time patient data, so that communication and care transitions are optimized for better outcomes and improved patient experience.”
As the healthcare industry continues to grapple with rising costs and a multitude of other challenges, the FCS Value-Based Care Program is keenly focused on a four-pronged approach that aims for:
- Exceptional patient experience
- Enhanced population health outcomes
- Cost optimization
- Comprehensive care management
As these four metrics are realized, the FCS Value-Based Care Program will develop and utilize new strategies and technologies that are essential for clinical and financial success and that advance value-based care solutions to support quality care objectives.
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About Florida Cancer Specialists & Research Institute, LLC: (FLCancer.com)
Recognized by the American Society of Clinical Oncology (ASCO) with a national Clinical Trials Participation Award, Florida Cancer Specialists & Research Institute (FCS) offers patients access to more clinical trials than any private oncology practice in Florida. In the past four years, the majority of new cancer drugs approved for use in the U.S. were studied in clinical trials with Florida Cancer Specialists participation.* Trained in prestigious medical schools and research institutes, our physicians are consistently ranked nationally as Top Doctors by U.S. News & World Report.
Founded in 1984, Florida Cancer Specialists has built a national reputation for excellence that is reflected in exceptional and compassionate patient care, driven by innovative clinical research, cutting-edge technologies and advanced treatments, including targeted therapies, genomic-based treatment, and immunotherapy. Our highest values are embodied by our outstanding team of highly trained and dedicated physicians, clinicians and staff.
*Prior to approval
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