LeadingAge New York Annual Conference 2017 June 2017 - Page 16

Purposeful Transformation By Jacqueline Colafemina Value-based payment refers to a broad set of performance-based payment strategies that link financial incentives to providers’ performance on a set of defined measures. The lower the costs and the higher the quality equates to higher overall value in this alternative payment model (APM). This year’s conference included a session called Value-Based Payment: Purposeful Transformation. It was given by Brian Ellsworth, MA, who serves as director of payment transformation at Health Dimensions Group in Higganum, CT. At the session, participants learned Medicare APM marketplace dynamics and New York State’s value-based payment roadmap, and also heard case studies that demonstrate how these APM’s could affect business in the future. The session emphasized the need to truly understand value-based payments because it’s not going away anytime soon and could mean big benefits for your facility. Understanding risk- based payors’ incentives in your market, particularly for those that face downside risk, is key. Organizations need to learn how to take risks to achieve scale in value-based payments. For example, consider voluntarily purchasing another facility. Also, to achieve scale, value-based payments incentives would need to be properly aligned and metrics risk-adjusted in order to be effective. The higher the risk, the higher the reward. It can be intimidating when but taking a leap can help members stay ahead of the curve. Developing Future Leadership on the Links The 2017 LeadingAge Annual Conference and Exposition marked an exciting step in a two-year process of transforming the Annual Golf Tournament from a PAC fundraiser to a tax-deductible charitable event of the Foundation for Long Term Care (FLTC). Proceeds go to a special scholarship program that has been established to help build and promote the development of leadership in aging services. A portion of the contribution to the FLTC is tax-deductible to the extent permitted by law. The FLTC is pleased to announce that the winner of the 2017 scholarship is Eustacia Smith of The W. 74 th St. Residence, WSFSSH. The scholarship made it possible for Eustacia to attend the conference by covering the costs of conference registration and hotel. Congratulations to Eustacia and to all candidates who applied for the scholarship. Look for information on the 2018 scholarship application in early 2018. 16 Adviser a publication of LeadingAge New York | Summer 2017 Eustacia Smith