value-based insurance design

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value-based insurance design

,

VBID

A health insurance plan that charges patients less for those services that are deemed to be the most helpful to them and more for services that are elective or of relatively low value, i.e., provide little health benefit.
References in periodicals archive ?
VBID is still an emerging best practice in both the public and private sectors.
So she and her colleagues enrolled active University of Michigan employees and their dependents with diabetes into a VBID program that reduced their co-pays for antihypertensive, lipidlowering, and glucose-lowering agents starting in July 2006.
What VBID proposes is this: By customizing benefits so that the most valuable services for any one condition cost less to the employee than services of lesser value, companies can make healthcare dollars go farther.
A VBID system might be easier to construct given the public investment in comparative effectiveness research that is expected with the stimulus spending starting this year.
For the first time, this research offers high-quality, empirical data on the VBID plan features that appear most effective for stimulating greater medication adherence," said Niteesh Choudhry, MD, PhD, associate physician, Division of Pharmacoepidemiology and Pharmacoeconomics, Brigham and Women's Hospital and associate professor, Harvard Medical School and the lead author of the study.
The tool will also leverage VBID Health's expertise regarding the use of innovative payment reform and consumer engagement initiatives to reduce unnecessary spending.
Streamlining the identification of member compliance is "where the rubber meets the road," according to Katie Neben, TriZetto's director of VBID product management, and the new version of TriZetto's solution adds functionality that automates the identification of reward-worthy activities by evaluating medical claims, pharmacy claims or biometric data.
Money wasted on unwarranted variations in care could be saved through better alignment of information and incentives using VBID mechanisms.
Watch Fendrick explain VBID programs here: http://www.
VBID argues that patient cost sharing should be set based on the value (benefit net of cost)--not simply the price--of services.
reduced ER visits and hospitalizations; and Blue Cross and Blue Shield of North Carolina posted a three-to-one return using VBID.
VBID steers employees to use higher-value health care services by removing barriers for essential, effective services, thus reducing overall costs and improving outcomes.