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VALUE BASED PURCHASING ASSIGNMENT - CUNY Lehman College

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Value-Based Purchasing Assignment Throughout the years, there have been various discussions and systems enacted in the healthcare industry to ensure that healthcare and its cost align. The United S... tates continues to be recognized for being the country with the highest expenditure when it comes to healthcare. Ranges of strategies have been developed and implemented with the goal of targeting the concept of payment for providers and its beneficiaries. All looking for a way on how to lower medical cost, improve the quality of care, patient satisfaction and the importance of regulating health insurances, consistencies and redesigning the payments and providing healthcare physicians with incentives to make sure that results are valid and patients are valued, and ensure that their needs are met. Value-based purchasing is a term in healthcare that presents the idea of payments to a physician for services to improve both the quality of care provided for the patient and the cost for the healthcare services. It ensures that healthcare staff is responsible for the services they provide patients with. VBP ensures that healthcare providers provide effective health services, and if they do not they are responsible for the rendering services. VBP becomes rewarding because it creates a system that rewards the best performers. Over the past years VBP, this approach in healthcare has been growing to be accepted by citizens and healthcare professionals. Under the article Payor-Provider Contracting in Era of Value-Based Purchasing Payment Reform Models, Foster states comes down to "elements of improving quality outcomes, patient satisfaction, and reasonable cost or lower ,” highlighting the factors behind value-based purchasing. Foster emphasizes that without these driven factors for the proposition. ValueBased Purchasing is driven from shared savings and gainsharing arrangements to narrow networks. Shared savings and gainsharing are two initiatives that ensure that providers are riveted to decreasing the cost of healthcare. Gainsharing ensures that there are direct payments to healthcare professionals. The shared savings' programs enable beneficiaries to decrease spending by creating incentives for providers to use the lower services for their patients while still achieving good healthcare attention. Value-Based Purchasing leads to healthy individuals because it allows patients to receive good quality health care, at a lower cost which drives people to engage in preventative and long-term care. This is a benefit because it reduces the chances of chronic diseases, by engaging patients to be proactive when it comes to their healthcare needs. The goal of this system is to give providers the needed resources to ensure they are delivering efficient care. This allows the [Show More]

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