Value-based care requires new thinking in both how we pay for care (i.e. alternative payment models) and how we engage consumers to seek care (i.e. benefit design). During this podcast, A. Mark Fendrick, MD, Director of the Center for Value-Based Insurance Design at the University of Michigan, discusses the origins and evolution of V-BID and why he believes designing health benefit plans to reduce financial barriers to essential, high-value clinical services is the answer to lowering healthcare costs.
Mark, who is also a professor in medicine and public health at the University of Michigan, and shares real-world examples of V-BID implementation and how it has helped public and private payers increase the use of high-value services, lower consumer out-of-pocket costs, and reduce health care disparities. Hew also talks about incorporating digital into V-BID, the differences between V-BID and Value-Based Care, and the challenges of implementing V-BID and how to overcome them.
This episode of Bright Spots in Healthcare is sponsored by Healthy.io.
Healthy.io is the global leader in turning the smartphone camera into a clinical-grade medical device for an at-home urinalysis and digital wound management. Their home urinalysis kit aids in the diagnosis of chronic kidney disease, urinary tract infections, and prenatal testing and is used by leading healthcare systems worldwide.