Payor-Provider Contracting in Era of Value-Based Purchasing
Please read the posted article, ” Payor-Provider Contracting in Era of Value-Based Purchasing Payment Reform Models. This article is very timely as the Centers for Medicare and Medicaid (CMS) and managed care companies move from a volume to a value based reimbursement methodology. Seeking to reduce costs while increasing quality care and producing good outcomes, managed care companies and CMS are establishing what is referred to as Valued Based Reimbursement or as called in this article, Value Based Purchasing (VBP) contracting with providers and giving them financial incentives to change behavior, drive quality and produce good outcomes.
Your assignment: In a TWO page single spaced typed paper summarize this article discussing the overall objective of VBP, identifying the key elements of VBP and models that represent VBP?