Value-Based Payment
Value-Based Payment (VBP) is a healthcare payment model that rewards providers for the quality of care they deliver rather than the quantity. This approach focuses on patient outcomes, encouraging healthcare professionals to improve the effectiveness and efficiency of their services. By linking reimbursement to the value of care, VBP aims to enhance patient satisfaction and reduce overall healthcare costs.
In a VBP system, providers may receive bonuses or penalties based on performance metrics, such as patient health outcomes and adherence to best practices. This model contrasts with traditional fee-for-service payment, where providers are paid for each service rendered, regardless of the results achieved.