Highmark Inc. Sees Value in VBID Model
Oct. 2, 2017
The last couple of posts I have been reviewing articles discussing value-based compensation in different facets of healthcare. In a blog post from HFMA, they discuss the value-based insurance design (VBID), and the current experiments going on to see if this improves health and costs.
Many people with chronic illness do not have the means to see the most well-known physicians at the most advanced facilities, even though having that option would allow them better treatment. Ultimately, insurance companies are beginning to wonder if access to better healthcare would cut down costs for chronic illnesses. To better understand this, CMS is working to implement a protocol model to understand these outcomes.
The plans that health plans in 7 different states can choose from are:
The last couple of posts I have been reviewing articles discussing value-based compensation in different facets of healthcare. In a blog post from HFMA, they discuss the value-based insurance design (VBID), and the current experiments going on to see if this improves health and costs.
Many people with chronic illness do not have the means to see the most well-known physicians at the most advanced facilities, even though having that option would allow them better treatment. Ultimately, insurance companies are beginning to wonder if access to better healthcare would cut down costs for chronic illnesses. To better understand this, CMS is working to implement a protocol model to understand these outcomes.
The plans that health plans in 7 different states can choose from are:
Plans can choose from among the following options:
- Reduced cost sharing for high-value services
- Reduced cost sharing for high-value providers
- Reduced cost sharing for enrollees participating in disease management programs
- Supplemental benefits, such as tobacco cessation assistance for enrollees with chronic obstructive pulmonary disease (COPD)
They are not limited to these options, and can choose any combination of above or certain comorbidities. The goal is to see which approach works best to reduce cost and better treat patients with chronic illness.
Highmark is looking at COPD and diabetes. They have culminated excellent physician care in these areas and have began implementing financial incentives to get patients to interact more with their health. It is a way to get the patients seeing better physicians for their illness, and actively working to live a healthier life.
I think VBID is a good way to get patients who do not have the means of seeing high-end physicians to have access to these healthcare organizations. Ultimately, I think this will reduce overall costs associated with chronic illness, because the patient will be having more effective treatments at excellent healthcare orgs.
It is difficult to implement things like this, because it is a change in culture to the way the current insurance system is run. It would require a transformative attitude from the insurance market on how to effectively implement these models as well as monitor their success to see if they are truly saving money in the long run while greatly improving patient health.
Comments
Post a Comment