Dr. Mark Fendrick discusses how the Geisinger V-BID Program leads to savings by eliminating drug co-payments A study published in the February 2016 issue of The American Journal of Managed Care investigated the potential cost-savings of a $0 prescription co-pay program for chronically ill employees of the Geisinger Health System (GHS). Approximately 200 anti-hypertensive, anti-diabetic, and anti-lipid medications were provided at zero cost-sharing to 2251 GHS employees as part of an employee health and wellness program. The program showed positive cost-savings and a positive 5-year return on investment.
On Tuesday, February 23rd, Dr. A. Mark Fendrick, Director of The Center for Value-Based Insurance Design, testified before the United States Senate Committee on Armed Services Subcommittee on Personnel. Dr. Fendrick discussed how the principles of value-based insurance design (V-BID) and clinical nuance can contribute positively to defense health care reform.
On Tuesday, February 23rd, Dr. A. Mark Fendrick, V-BID Center Director, testified before the United States Senate Committee on Armed Services Subcommittee on Personnel. Dr. Fendrick discussed how the principles of value-based insurance design (V-BID) and clinical nuance can contribute positively to defense health care reform.https://youtu.be/zprEwpVgXCo Additional testimony materials available below:
On Tuesday, February 9th, Dr. A. Mark Fendrick, V-BID Center Director, testified before the Michigan Senate Appropriations Subcommittee on Health and Human Services in Lansing, Michigan. Dr. Fendrick discussed opportunities to improve the health of Michigan residents through the utilization of value-based services and performance metrics, as well as how clinically nuanced cost-sharing has been an effective way to improve value and creates an opportunity for broad innovation in the Medicaid space. Value-based insurance design (V-BID) principles are included in the Healthy Michigan Plan for Medicaid expansion, as outlined in the V-BID Center's Michigan Medicaid brief. The Hearing announcement can be accessed here. More Hearing materials are available below: Presentation Slides Clinical Nuance Infographic
This interactive timeline highlights the numerous V-BID achievements in 2015. From the passing of legislation, to the announcement of a V-BID demonstration in Medicare Advantage, to a 10th Anniversary V-BID Summit, 2015 was a standout year for V-BID.
Choosing a Health Plan? Check out our new Whiteboard Video! The University of Michigan Center for Value-Based Insurance Design (V-BID) is pleased to introduce our very first student-created whiteboard video, Goldilocks Chooses a Health Plan. Much like finding the right bed, choosing a health plan can be challenging. Watch as Goldilocks traverses through the complicated health insurance market of 'too soft' and 'too hard' health plans, and then discovers the Value-Based Insurance Design Plan, which is 'just right.' With this 'just right' health plan, Goldilocks has financial incentives to utilize high-value services and skip services of unproven value. This plan also lowers cost-related non-adherence, improved health outcomes, and avoids the Cadillac Tax. For more information on choosing a 'just right' health plan, please contact the V-BID Center at email@example.com.
Despite large, innovative improvements in medicine, cost growth in healthcare is the main focus for healthcare reform. The V-BID Center proposes that we shift the healthcare cost discussion from "how much" to "how well" through clinical nuance. This new approach takes into consideration that services differ in the clinical benefit produced and that clinical benefit depends on the patient, provider, and healthcare setting. Through clinically-nuanced cost sharing, we can encourage patients to use high value services and discourage them from using low value services. Watch the video to learn more. View our 'Clinical Nuance' Infographic by clicking the button below.
U.S. House Ways and Means Subcommittee on Health V-BID Center director A. Mark Fendrick, M.D., testified at a hearing on Medicare benefit design before the U.S. House Ways and Means Subcommittee on Health. Dr. Fendrick's testimony focused on the importance of re-designing Medicare benefits to engage beneficiaries to utilize evidence-based clinical services and high performing providers, as well as the quality improvement and cost containment that result when clinical nuance is incorporated in benefit design. Video of the testimony is available below. Additional testimony resources can be found below:
Washington, D.C. - The V-BID Center's Director, A. Mark Fendrick, MD, testified at the US Senate Committee on Health, Education, Labor, and Pensions. The hearing was titled “Improving Quality, Lowering Costs: The Role of Health Care Delivery System Reform.” Dr. Fendrick’s testimony described the role of V-BID in health care delivery innovation and the emergence of clinically nuanced approaches as a means to improve health outcomes and 'bend the cost curve.' A video of the testimony is available. Dr. Fendrick’s testimony begins at 2:08:00. Additional testimony resources are available below: