Value based purchasing (VBP) is a means by which progressive employers can create an environment to stimulate the continuous improvement of the quality, safety and efficiency (i.e.value)of care. They can do this by joining with like-minded payers and providers to follow the six principles and practices of value based purchasing first published 25 years ago. In cooperation with payers and their employees, employers need to augment these VBP practices with Value Based Insurance Design. By rewarding the health conscious and more cost effective clinical decision making of their employees, dependents and retirees (whose health care costs they subsidize), employers may use VBID to enhance theirVBPprograms and their results, and vice versa.
Understand why the ultimate goal of value-based purchasing (VBP) is to improve continuously the quality, safety and efficiency of healthcare services delivered to specific populations.
Discuss how VBP differs from Value Based Insurance Design (VBID).
Examine a new way of employer leadership engagement and strategic thinking in the C-Suite so that employers can continue to champion and sustain VBP and VBID
Identify innovative strategies for employers in their enlightened self interest to be leaders in VBP and VBID.