value-based insurance design

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 ?
CMS has initiated a value-based insurance design program for Medicare Advantage plans.
Have an easier time finding policies compatible with health savings accounts, and policies based on value-based insurance design principles.
Value-Based Insurance Design (VBID) is an approach used by healthcare payers to promote a patient's use of high-value services.
The Centers for Medicare & Medicaid Services (CMS) Center for Medicare and Medicaid Innovation is announcing refinements to the design of the second year of the Medicare Advantage Value-Based Insurance Design (MA-VBID) model.
The partnership will also include a collaborative effort for expanding quality measures, value-based insurance design (VBID) and financial analytics to track and demonstrate approaches to treating complex chronic care patients within underserved communities.
If state regulators prod some health insurers to reduce 2016 rate increases, those insurers may have more of an incentive to use a value-based insurance design, the narrow networks and other mechanisms to hold down benefits costs, the analysts say.
The study, from researchers at CVS Caremark, Aetna, and Brigham and Women's Hospital in Boston, suggests the approach, known as value-based insurance design, might be effective in reducing commonly recognized disparities in cardiovascular care related to patient ethnicity and race.
The study, from researchers at CVS Caremark, Aetna, and Brigham and Women's Hospital in Boston, suggests the approach, known as value-based insurance design, may be effective in reducing commonly recognized disparities in cardiovascular care related to patient ethnicity and race.
Mark Fendrick, director of the University of Michigan's Center for Value-Based Insurance Design and professor of internal medicine.
We also miss out on those who have promoted value-based insurance design, the idea that lower health care spending can be achieved using high-value health care services to reduce the probability of adverse events related to chronic disease.
This article presents four techniques that have the potential to contain costs while preserving the value of the benefit for employees: onsite clinics; employee wellness programs; consumer-directed health care; and value-based insurance design.
For example, value-based insurance design (VBID) is a relatively new idea, based upon the longstanding concept of price elasticity of demand, that is, that utilization of a service or product is inversely related to cost.