Value-based agreements (VBAs) are contracts between payers (such as insurance companies or government programs) and healthcare providers that tie payments for medical services to the quality and outcomes of patient care, rather than to the volume of services provided (i.e. fee-for-service payment agreements or models). The goal of VBAs is to align incentives between payers and providers to encourage the delivery of high-quality, cost-effective care.
In VBAs, payments are based on predetermined quality and outcome metrics, such as patient satisfaction, the effective management of chronic conditions, or reduced hospital readmissions. This approach incentivizes providers to focus on the overall health and well-being of their patients, rather than on performing more procedures or tests. The success of VBAs is measured by improved health outcomes, reduced healthcare costs, and enhanced patient satisfaction.
Vim is a leader in helping accelerate performance on value-based agreements through several dynamic, context aware solutions through its proprietary technology, Vim Connect. To learn more about Vim’s solutions such as Vim Quality Gaps and Vim Diagnosis Gaps, click here.
