The move toward value-based pricing may be confusing to many physical therapists who have not ventured away from traditional fee-for-service payment.
For us to shift our mindset to alternative pricing, we must be comfortable with accepting some of the financial risk of providing care. We are used to being paid by timed units of service. Accepting financial risk moves us in a different direction and means we need to be able to predict our outcomes for a specific patient population. In order to do this effectively, you must know your cost and profit points. You shouldn’t venture into these models until you know your key practice metrics.
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