$430 Million in Value-based Healthcare with Arkos Health President
Description
Company Stats
- Revenue: $430 million
- Employees: 800
- Founded: 2019
Episode Highlights
✅ U.S. healthcare needs value-based care to improve outcomes and reduce costs.
✅ Preventative care and patient education are crucial for long-term health improvement.
✅ Financial incentives align provider goals with quality care, leading to better patient experiences.
Episode Summary
In this episode, Amish Purohit, President of Arkos Health, delves into the complexities of the U.S. healthcare system and the need for a shift toward value-based care. Arkos Health, with an annual revenue of $430 million and a team of 800, formed through a merger in 2020 and has grown rapidly with a tech-enabled approach to population health management. Dr. Purohit explains that traditional volume-based care, which focuses on the number of patients seen, often leads to poor health outcomes and high costs. In contrast, value-based care aligns financial incentives with quality, focusing on preventative measures, improved patient-provider interactions, and outcomes.
Dr. Purohit also introduces the concept of the quintuple aim in healthcare, highlighting goals such as reducing per capita costs, enhancing patient experience, and ensuring health equity. Arkos Health partners with payers and providers to implement value-based contracts, aiming to provide better healthcare access in underserved regions and enhance the overall quality of care.
Notable Questions We Asked
Q: What is value-based healthcare, and why is it important?
A: Value-based healthcare aligns financial incentives with quality care, encouraging preventative measures and better patient outcomes while reducing overall costs.
Q: What is the quintuple aim in healthcare?
A: The quintuple aim includes reducing per capita costs, improving patient experience, enhancing population health, ensuring provider satisfaction, and promoting health equity.
Q: How does Arkos Health support value-based care?
A: Arkos Health enables value-based contracts by providing resources and support to payers, providers, and patients, especially in underserved regions.
Q: Why does the U.S. healthcare system struggle with poor health outcomes despite high spending?
A: Traditional volume-based care focuses on quantity, not quality, leading to high costs without improving outcomes; value-based care aims to address this issue.
Q: What are the barriers to implementing value-based care across the U.S.?
A: A major barrier is the lack of knowledge and infrastructure in many states; Arkos Health aims to bridge this gap through partnerships and support.
Chapters
00:00 Intro
00:18 Company Stats
00:49 The Formation and Growth of Arkos Health
03:03 Understanding Value-Based Healthcare
06:26 The Quintuple Aim Framework
12:13 Challenges and Barriers to Value-Based Care
13:19 Connect with Arkos Health
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#HealthcareReform #ValueBasedCare #PopulationHealth #HealthEquity #PreventativeCare #PatientExperience #HealthcareInnovation #QuintupleAim #ArkosHealth #MedicalManagement
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