Value-based care seeks to improve care quality while reducing cost, and does so, in large part, through the use of innovative alternative payment models. But for payers, transitioning from volume-based payment (i.e., fee-for-service) to value-based alternatives is easier said than done. On today's show, Mark Berg of McKinsey & Company's Healthcare Innovation group join's Change Healthcare's Rob Capobianco to talk about the steps payers need to take to succeed with value-based care and APMs, and the seven characteristics of successful alternative payment models—the topic of a recent McKinsey report. Here's what they covered:  What does McKinsey & Company do and who are their clients (03:47) The importance of having organizational systems in place to scale value-based models (07:57) Value-based payment as a core strategy for medical cost control, and the role of primary care practices (11:16) Value-based care pain points and the importance of stakeholder engagement (18:03) How episodes-of-care can help payers develop their value-based strategies (22:24) The seven characteristics that make a value-based model successful (27:37) How risk shapes success, and how fast or slow to go (32:34) When should payers commit to value as a core strategy (34:40) Episode Resources Contact Cappy Mark Berg's bio The Seven Characteristics of Successful Alternative Payment Models Research: Value-Based Care State-by-State Seminar: How Anthem is Scaling Value-Based Payment Value-Based Payment Resource Hub Show Resources  SUBSCRIBE to the podcast using any podcatcher or RSS reader Download the audio and listen offline Get the iOS app Get the Android app Suggest or become a guest Contact Change Healthcare