Is my understanding on Value Base Purchasing (VBP), that the patient advantage over the long term
Gilberto E. Alvarado-Rivera
Hello Class,
Is my understanding on Value Base Purchasing (VBP), that the patient advantage over the long term as they will experience better health services or outcomes. Some of the benefits are, reduce cost because it involves an initiative-taking approach to promoting service quality. It does care of patient’s satisfactions and reduces medical errors. Its magazines patients informed of services and promoted healthy habits. But present challenges have policymakers tuning and gaining experiences in implementing VBP programs. Remember VBP are brad set of performance-based payment strategies that links financial incentives to healthcare providers based in their performance defined to achieve a better value (Damberg, C. L., Sorbero, M. E., et al., 2014). This holds to the responsibility for both the cost and the quality of the care they provide to their patients. In 2104, Arizona Health Care Cost Containment System has had a Payment Modernization Plan in place, which requires them to adopt VBP strategies. By 2019, MCO’s must have 50% of all payments to providers subjected to VBP (United Healthcare, 2018). By moving from fee-for-service to fee-for-value, this is accept by many organizations because it does lower healthcare cost while increasing quality care.
REFERENCES
Damberg, C. L., Sorbero, M. E., Lovejoy, S. L., Martsolf, G. R., Raaen, L., & Mandel, D. (2014, March 4). Measuring Success in Health Care Value-Based Purchasing Programs. Www.Rand.Org. Retrieved April 13, 2022, from https://www.rand.org/pubs/periodicals/health-quarterly/issues/v4/n3/09.html
United Healthcare. (2018, October 2). Value-Based Purchasing. Www.Uhccommunityandstate.Com. Retrieved April 14, 2022, from https://www.uhccommunityandstate.com/content/articles/value-based-purcha
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