Patrick Conway, MD, explains why CMS looked toward value-based insurance design for Medicare Advantage plans.
Patrick Conway, MD, says that CMS is looking towards value-based insurance design for Medicare Advantage plans.
What is it about value-based insurance design that CMS thought would make it a good fit for a Medicare Advantage Demonstration?
So we had seen value-based insurance design in the private market, we’d seen some evidence of its potential to improve quality, to lower cost, and to increase delivery of high-value services. And we’re hearing from Medicare Advantage (MA) Plans that they wanted the ability to have value-based insurance design in the MA program.
So we put forward that model where, in the process of getting applications and selecting those applications, we think incentivizing the consumer, the beneficiary, to seek out high-value services will be beneficial to Medicare Advantage plans and to our health system.