How a Calling Has Led to the Evolution of Primary Care in the US
Escalating primary care costs in the United States urges a reconsideration of the traditional fee-for-service model, giving rise to a value-based care (VBC) model emphasizing better patient outcomes and cost-effectiveness. The financial potential of VBC is significant, with a McKinsey report indicating that the growth in value-based care has created approximately $500 billion in enterprise value, projected to reach $1 trillion as the sector matures.
At the heart of this transition lies a profound question: How can embracing value-based care, driven by economic imperatives and human-centric models, redefine primary care delivery to better meet patients’ needs while ensuring financial sustainability?
In the latest episode of Healthcare Rethink, a FinThrive podcast, host Brian Urban delves into this pertinent discussion with Dr. Gordon Chen, MD, the Chief Medical Officer at ChenMed. This conversation navigates through Dr. Chen’s early life, the health ordeal of his father, and how these experiences galvanized the evolution of ChenMed into a paradigm of value-based primary care.
- The genesis of ChenMed and its evolution into a transformative care model that significantly reduces hospitalizations by 30 to 50%
- The impact of ‘The Calling,’ a book that encapsulates the Chen family’s journey, on the broader healthcare ecosystem
- A unique approach to value-based care, characterized by a proactive health management strategy which sets it apart in the primary care landscape
Dr. Gordon Chen, a dedicated medical practitioner with roots tracing back to Taiwan, embodies a unique blend of cultural heritage, a rich academic journey, and an indelible commitment to innovate in primary care. His education at Brown University, followed by medical school in Miami, and the transformative experience of his father’s health crisis have uniquely positioned him as a vanguard in the ongoing transition towards a more compassionate and efficient primary care model in the United States.
