2016 Year in Review: University of Michigan V-BID Center

Since its inception in 2005, the University of Michigan Center for Value-Based Insurance Design (V-BID) has led efforts to promote the development, implementation, and evaluation of innovative health benefit designs balancing cost and quality. A multidisciplinary team of faculty, including A. Mark Fendrick, MD and Michael E. Chernew, PhD, who first published and named the VBID concept, have guided this approach from early principles to widespread adoption in the private and public sectors. The Center has played a key role in the inclusion of VBID in national healthcare reform legislation, as well as in numerous state initiatives. The basic VBID premise is to align patients’ out-of-pocket costs, such as copayments, with the value obtained from health services and providers.
The University of Michigan Center for Value-Based Insurance Design (V-BID) celebrated significant initiative milestones in 2016.
Last year was a big year for value-based insurance design (VBID) and the University of Michigan Center for Value-Based Insurance Design celebrated significant initiative milestones in 2016.  From the expansion of the Medicare Advantage VBID program, to the introduction of VBID in China, and the inclusion of a VBID demo in TRICARE, Center initiatives advanced markedly this year.

View the interactive timeline below for more on 2016 V-BID Center accomplishments, and keep up with the latest VBID news by following the Center on Twitter at @UM_VBID.




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