Value-Based Insurance Design

ARTICLES

Rising healthcare expenditures, leading to increased consumer cost sharing, is a top concern in healthcare that crosses party lines. In a new commentary in JAMA Internal Medicine, A. Mark Fendrick, MD, and Michael E. Chernew, PhD, co-editors-in-chief of The American Journal of Managed Care, highlighted the need for a “smarter” deductible.
A look at value-based insurance design, and how it provides a way to reduce financial barriers to care for people with chronic conditions.
Although there are still some unknowns surrounding the new Medicare Advantage Value-Based Insurance Design (VBID) Model, beneficiaries are likely to appreciate the reduction in copays for high-value care, said Michael E. Chernew, PhD, the Leonard D. Schaeffer Professor of Health Care Policy and director of the Healthcare Markets and Regulation Lab in the Department of Health Care Policy at Harvard Medical School.
The new Medicare Advantage value-based insurance design (VBID) demonstration, which is supported by both the Obama administration and the Republican House of Representatives, has sparked interest from additional states that want to be involved in this access-increasing program, said A. Mark Fendrick, MD, director of the Center for Value-Based Insurance Design at the University of Michigan.
Value-based insurance design (VBID) is one of just a few areas that has bipartisan support, and now the concept of VBID is being brought to TRICARE, the healthcare program of the United States Department of Defense Military Health System.

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