The Oncology Care Model (OCM) is a Medicare program designed to improve the quality of care for cancer patients while also reducing costs.
Under the program, participating providers receive financial incentives for meeting certain quality metrics, such as reducing emergency room visits and hospitalizations. However, participating in the OCM can also be challenging, as it requires significant changes to the way providers deliver care. In this article, we will discuss the challenges of participating in the OCM and why three providers say it was worth it.
Challenges of Participating in the OCM
Changing the Way Care is Delivered
One of the biggest challenges of participating in the OCM is changing the way care is delivered. The program requires providers to adopt a team-based approach to care, with a focus on coordination and communication between providers, patients, and caregivers. This can require significant changes to the way providers operate, including the adoption of new technology and the creation of new workflows.
Meeting the Quality Metrics
Another challenge of participating in the OCM is meeting the quality metrics required for financial incentives. Providers must meet specific targets for reducing emergency room visits, hospitalizations, and other measures of quality. This requires a significant investment of time and resources, as providers must implement new processes and workflows to meet these metrics.
Data Reporting Requirements
Participating in the OCM also requires providers to meet certain data reporting requirements. Providers must collect and report data on their patients’ treatment plans, as well as their outcomes and costs. This requires significant investments in technology and personnel to collect, manage, and report the data.
Why Providers Say It Was Worth It
Despite the challenges of participating in the OCM, many providers say that it was worth it. Here are three reasons why:
Improved Patient Outcomes
One of the primary benefits of participating in the OCM is improved patient outcomes. By adopting a team-based approach to care, providers are better able to coordinate and communicate with patients and their caregivers. This can lead to better outcomes, such as reduced emergency room visits and hospitalizations, and improved quality of life for patients.
Financial Incentives
Participating in the OCM also provides financial incentives for providers who meet certain quality metrics. This can help offset the costs of implementing new processes and workflows required by the program. Providers who meet the quality metrics can receive a share of the savings generated by the program, which can be reinvested in patient care.
Competitive Advantage
Finally, participating in the OCM can provide a competitive advantage for providers. By demonstrating a commitment to quality care and a willingness to adopt new approaches to care delivery, providers can differentiate themselves in a crowded market. This can help attract new patients and retain existing ones, leading to long-term growth and success.