Funding models refer to the methods used to finance healthcare services, treatments, and programs in the U.S.. Some common funding models include:
Fee-for-service (FFS) – Healthcare providers are paid for each service or procedure they perform.
Capitation – Healthcare providers are paid a set amount per patient, regardless of the services they provide, to cover the cost of all care for a specified period of time.
Pay-for-performance (P4P) – Healthcare providers are incentivized to deliver high-quality, cost-effective care by receiving bonuses or other financial rewards based on specific performance metrics.
Value-based care – Healthcare providers are reimbursed based on the overall value they provide to patients, rather than the volume of services they provide. This model emphasizes quality and efficiency in healthcare delivery.
Universal health coverage (UHC) – A system of financing healthcare in which everyone has access to necessary medical services without incurring financial hardship. This is often achieved through government-funded programs, such as Medicare in the US.
The choice of funding model depends on the goals and needs of a specific healthcare system and can have a significant impact on the quality and accessibility of care provided to patients.
Vim is a leader in helping accelerate performance on value-based care through several dynamic, context aware solutions through it’s proprietary technology, Vim Connect. To learn more about Vim’s solitions such as Vim Quality Gaps and Vim Diagnosis Gaps, click here.
