Question

Discuss one of the VBP or P4P initiatives related to your organization and/or department. Have you been involved with this initiative? Has it impacted your work in any way

Answer 1

The Value-Based Purchasing Program (VBP) is to improve patient safety and experience by basing Medicare payments on the quality of care provided. Pay for Performance (P4P) rather than on the number of services performed is based on the organizational offerings that are given to its consumer. This is best maintained in the healthcare industry and the users of the sector. The methods are based on how much of care is needed and given, values added to the services provided or the cost for administration of the processes in healthcare is charged on this basis of P4P that is Value-based purchasing model best used in the hospitality sector especially for the cases those are emergency and needs a short and prompt action is charged based on the cost incurred and services provided.

In the Hospital that I did, my internship had this service for the emergency ward where the people came with immediate care needs which after fixing like stitches or plastering for a fractured bone being done I charged on the case to case basis as not all the services like the aforesaid needs same product or skill hence the cost of services are different as well. This work and objective of the Hospital made me aware of the way the cost-based services can be provided for service-based improved care processes are to be used. The understanding of how the patient's cost is reduced with such P4P arrangements was the learning that was of great value for me.