Listen in as Mark Fendrick, Director of the University of Michigan Center for Value-Based Insurance Design and a practicing general internist, provides an overview of the new developments in the world of Value-Based Insurance Design (VBID) including a cost-neutral opportunity.
After years of bipartisan support and tireless advocacy, the federal government has made important changes to Medicare Advantage and private health plan programs and regulations to allow more generous coverage of high-value health care services. The greater question is, how can these purchasers and payers implement these important changes without increasing total cost of care for the patients and the private employers and public agencies who purchase health care?
The answer: VBID X, a model plan that achieves cost-neutrality by specifying reduced or eliminated cost-sharing for high-value services and increased cost-sharing for select low-value services. Dr. Mark Fendrick and the University of Michigan worked with an actuarial team to design just that!
CPR appreciates Mark Fendrick for hopping on the phone to record this podcast with us. Want to learn more about this important topic? We interviewed Mark back in July 2017 as well.