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Value-based health care. Value-based health care ( VBHC) is a framework for restructuring health care systems with the overarching goal of value for patients, with value defined as health outcomes per unit of costs. [1] The concept was introduced in 2006 by Michael Porter and Elizabeth Olmsted Teisberg, though implementation efforts on aspects ...
In the healthcare industry, pay for performance ( P4P ), also known as " value-based purchasing ", is a payment model that offers financial incentives to physicians, hospitals, medical groups, and other healthcare providers for meeting certain performance measures. Clinical outcomes, such as longer survival, are difficult to measure, so pay for ...
Value-based insurance design (also V-BID, VBID, evidence-based benefit design, or value-based benefit design) is a demand-side approach to health policy reform.V-BID generally refers to health insurers' efforts to structure enrollee cost-sharing and other health plan design elements to encourage enrollees to consume high-value clinical services – those that have the greatest potential to ...
3 min read. An accountable care organization (ACO) is a group of doctors, hospitals, and other health care providers that work together on your care. Their goal is to give you -- and other people ...
Fee-for-service. Fee-for-service ( FFS) is a payment model where services are unbundled and paid for separately. In health care, it gives an incentive for physicians to provide more treatments because payment is dependent on the quantity of care, rather than quality of care. However evidence of the effectiveness of FFS in improving health care ...
Evidence-based practices. Evidence-based medicine ( EBM) is "the conscientious, explicit and judicious use of current best evidence in making decisions about the care of individual patients." [1] The aim of EBM is to integrate the experience of the clinician, the values of the patient, and the best available scientific information to guide ...
The Center for Value-Based Insurance Design at The University of Michigan ( V-BID Center) is an advocate for development, implementation and evaluation of clinically nuanced health benefit plans and payment models. [1] Since its inception in 2005, the V-BID Center has been actively engaged in understanding the impact of value-based insurance ...
Health care, or healthcare, is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health professionals and allied health fields. Medicine, dentistry, pharmacy, midwifery, nursing, optometry ...