Value-Based Purchasing Presentation

Value-Based Purchasing Presentation

Scenario: You work for the contracting department for a national payer that is working to convert its provider contracts to value-based arrangements. Your team is approaching large physician groups for recontracting. Develop a 10-15-slide presentation with speaker notes to show the value of converting to a value-based arrangement:
1.Explain value-based care.
2.Explain how value-based care differs from a fee-for-service or a capitated approach.
3.Describe why adopting a value-based purchasing arrangement would be financially advantageous for the physician groups and to the health plan.

Include at least three references, including your textbook.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.

Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.

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The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument.Value-Based Purchasing Presentation

 

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Value-Based Purchasing

Introduction

Value-based purchasing is a method of purchasing that improves the quality, affordability and availability of health care services by rewarding providers according to their performance. It seeks to improve patient outcomes by aligning incentives with value creation and rewarding providers who provide higher-quality care at lower costs. Value-based purchasing is based on four principles:

What is Value-Based Purchasing?

Value-Based Purchasing (VBP) is a method of purchasing goods and services based on the actual cost to the business. For example, if you purchased a printer for $100 and it costs your company $20 per month in maintenance fees, then you would be able to justify buying this printer because it saves money in the long run.

When VBP is used at retail locations like Walmart or Target stores around America, they use something called “customer scoring” which allows them to see their customers’ habits and patterns over time so they can make better decisions about what products/services are worth buying from their store once again next time around!

Definitions

Value-based purchasing is the process of choosing products, services and suppliers based on their value to an organization.

Value-based care is an approach for healthcare that seeks to optimize treatment outcomes for patients by focusing on optimizing the quality, safety and efficiency of care delivery.

Value-based payment is any method of compensation that rewards providers according to some measure other than fee for service or volume (such as quality).

How Value-Based Purchasing Works

• Value-based purchasing is the process of comparing the quality and cost of health care services.

• The main goal of value-based purchasing is to pay for health care based on the value of the service provided.

• There are three ways to evaluate a healthcare service: quality, cost, or some combination thereof. For example, if you’re evaluating a procedure for your cataract surgery that costs $10K and achieves an 80% success rate, then you might consider paying for it by paying per hour instead of giving up equity in your house or paying monthly installments over 20 years so as not to deplete all your assets too quickly.*There are two types:

Value-Based Purchasing for Consumers

Value-based purchasing is a means of acquiring products and services that meet certain criteria. This can be done by the consumer or a company, but the goal is always to find quality at an affordable price.

To use this strategy, you first need to define what value means for your business. In other words, how do you determine whether or not something has “value”? The answer may vary depending on where you are in your business cycle and what stage of growth or maturity level you’re at—but generally speaking there are two major ways businesses use value: process improvement (PI) and customer experience (CX).

Process Improvement focuses on improving processes within an organization through data analysis and optimization; this includes everything from reducing waste in manufacturing facilities to streamlining customer service lines so that customers receive faster answers when they call for help navigating through those processes. Customer Experience typically involves creating memorable experiences with customers through strong brand ambassadors who demonstrate empathy toward their needs while also providing relevant information about product features and benefits so they can make informed decisions about which product(s) best suits their needs now or later down the road when new technologies become available again later next month/year etcetera ad infinitum…

Value-Based Purchasing in Health Care Settings

Value-based purchasing is a method of paying providers based on the quality and outcomes of care they provide, rather than how many services they provide. This can be applied to any health care setting, but it’s especially useful in hospital settings because patients often have complex needs that require multiple appointments with multiple providers.

For example: If you’re diabetic and have an eye problem (glaucoma), your doctor might treat both problems at once—but if those two problems aren’t related in any way, then why would he? Some doctors will tell you this is fine; others won’t even consider it. That’s not good enough!

Incentives and Disincentives for Health Care Providers

To encourage providers to achieve cost savings, the Medicare program provides financial incentives. For example, if a hospital or outpatient care center achieves a cost reduction target of 5%, it will receive a bonus payment equal to 1% of its total Medicare fee-for-service budget for each quarter in which it meets the goal. If a hospital or outpatient care center does not meet its target savings but still provides quality care at lower costs than expected on average over three years, then there is no penalty (other than losing out on any bonuses) if they do not meet their targets again in future years; instead they are given an opportunity to improve performance through increased communication and coordination between payers and providers as well as efforts toward improving quality metrics like mortality rates or readmission rates among patients who have already been discharged from one facility before returning again within six months’ time after receiving treatment elsewhere during that same period when compared against similar patients treated within this same timeframe–or both.”

Takeaway:

Takeaway:

Value-based purchasing is a process that can help you achieve your organization’s goals by identifying products and services with the highest potential for value. This process will help you reduce costs, increase revenue, and improve quality of service.

Conclusion

The most important takeaway from this post is that value-based purchasing can lead to better health care outcomes. It’s a simple idea: If a provider chooses to focus on providing quality care, then the patient will be more likely to get what they need and pay less money out of pocket. When it comes down to it, this kind of thinking could save you hundreds of dollars each year!