I cannot divulge my sources, so take it for what it is, but in talking with people at the top of several very large private insurers (as far back as 2016) they were sick of how providers weren't healing people and bleeding them out.

I've seen evidence (firsthand) that value based care can work, but it's hard to get provider networks on board when they are the ones who aren't getting paid when readmission rates are too high.