Value based care are payments that give healthcare providers benefits based on the quality of care they provide to patients. This method demonstrates a shift from fee-for service payments, which reimbursed providers for the quantity of services they delivered. Value based care enables high achieving providers the ability to be rewarded sufficiently by the Centers for Medicare and Medicaid Services (CMS), thus improving their reputations as healthcare providers as well as receiving increased payments.
Some common examples of CMS value-based programs include:
- Accountable care organizations (ACOs)
- Alternative Payment Models, like Bundled payments
- Hospital readmission reduction program