In: Economics
Measuring success in health care ie Value based purchasing (VBP)is performance based payment strategy ,and is an example of something being measured. VBP give financial incentives to the performance of health care providers, which is depended on a set of measures. This is done to get better result.The US department of health and human services is making effort to implement VBP and to design the program in such a way so that it helps to get the desired goal.The 3 VBP models are-1) pay for performance which means making payment in which providers are rewarded that is given bonuses whenever desired targets are met or penalized that is reduction in payment made when targets are not met. This is to give reward for efficiency or to penalize for not maintaining quality or being inefficient.2) The second model is accountable care organisation where doctors ,hospitals etc work together voluntarily and are accountable for cost and care involved.The payment model makes reimbursement to providers based on quality and for lowering the cost.3) Bundled payment is another VBP model.Here payment is made to providers based on cost or bundled health care services.Financial payment is made on quality performance.
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