Succeeding in value-based payment: A conversation with Joshua M. Liao, MD

In an interview with Medical Economics following the ACP Internal Medicine Meeting 2025 in New Orleans, Joshua M. Liao, MD, professor of medicine and public health with tenure, Walter Family Distinguished Chair in internal medicine, director and principal scholar, program on policy evaluation and learning at the University of Texas Southwestern Medical Center, offers practical insights for primary care physicians navigating the realities of value-based care.

Throughout our discussion, Liao breaks down the core operational and strategic challenges that small and independent practices face — from patient attribution and data visibility to care delivery beyond the office visit and team-based incentive structures.

He answers questions like:

• How do you build lasting patient engagement in fragmented systems?
• What’s the smartest way to structure your team for value-based success?
• How can small practices level the playing field when scale works against them?