Value-Based Purchasing Assignment
Throughout the years, there have been various discussions and
systems enacted in the healthcare industry to ensure that healthcare and its
cost align. The United States continues to b
...
Value-Based Purchasing Assignment
Throughout the years, there have been various discussions and
systems enacted in the healthcare industry to ensure that healthcare and its
cost align. The United States continues to be recognized for being the
country with the highest expenditure when it comes to healthcare. Ranges
of strategies have been developed and implemented with the goal of
targeting the concept of payment for providers and its beneficiaries. All
looking for a way on how to lower medical cost, improve the quality of care,
patient satisfaction and the importance of regulating health insurances,
consistencies and redesigning the payments and providing healthcare
physicians with incentives to make sure that results are valid and patients
are valued, and ensure that their needs are met.
Value-based purchasing is a term in healthcare that presents the idea
of payments to a physician for services to improve both the quality of care
provided for the patient and the cost for the healthcare services. It ensures
that healthcare staff is responsible for the services they provide patients
with. VBP ensures that healthcare providers provide effective health
services, and if they do not they are responsible for the rendering services.
VBP becomes rewarding because it creates a system that rewards the best
performers. Over the past years VBP, this approach in healthcare has been
growing to be accepted by citizens and healthcare professionals.
Under the article Payor-Provider Contracting in Era of Value-Based
Purchasing Payment Reform Models, Foster states comes down to "elements
of improving quality outcomes, patient satisfaction, and reasonable cost or
lower ,” highlighting the factors behind value-based purchasing. Foster
emphasizes that without these driven factors for the proposition. ValueBased Purchasing is driven from shared savings and gainsharing
arrangements to narrow networks. Shared savings and gainsharing are two
initiatives that ensure that providers are riveted to decreasing the cost of
healthcare. Gainsharing ensures that there are direct payments to
healthcare professionals. The shared savings' programs enable beneficiaries
to decrease spending by creating incentives for providers to use the lower
services for their patients while still achieving good healthcare attention.
Value-Based Purchasing leads to healthy individuals because it
allows patients to receive good quality health care, at a lower cost which
drives people to engage in preventative and long-term care. This is a
benefit because it reduces the chances of chronic diseases, by engaging
patients to be proactive when it comes to their healthcare needs. The goal
of this system is to give providers the needed resources to ensure they are
delivering efficient care. This allows the
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