Consumer cost-sharing for prescription drugs is high and getting higher. To address the high out-of-pocket medication costs, patient assistance programs -- such as co-pay cards -- have become available to reduce consumers' financial liability. However, the use of co-pay assistance for medications for which there is an effective, lower-cost alternative is deemed as financially burdensome to the healthcare system. To counteract this inefficiency, Accumulator Adjuster Programs - which prevent co-pay assistance funds from being applied to patients' deductibles - are increasingly being implemented, resulting in greater patient financial responsibility and potential disruption of recommended treatments. Our "Precision Co-Pay Assistance Programs" whiteboard video introduces a clinically nuanced solution designed to ensure access to clinically indicated therapies. Check out our additional materials on patient assistance programs by clicking one of the buttons below. [maxbutton id="177" ] [maxbutton id="223"]
Access to prescription drugs is a hot-button health care issue. The V-BID center proposes an innovative and dynamic concept - Precision Benefit Design - that recognizes that individualized therapies are often needed to achieve desired health outcomes.
High-deductible health plans with a health savings account are increasing in popularity, but patients with chronic health conditions still struggle to afford the care they need. The Center for Value-Based Insurance Design proposes an innovative alternative to HSA-HDHPs, called the High-Value Health Plan.
The Center for Value-Based Insurance Design presents "Moving from Volume to Value: Aligning Providers and Consumers"
V-BID aligns patients' out-of-pocket costs with the value of services. These innovative plans are designed with the tenets of "clinical nuance", recognizing that 1) clinical services differ in the benefit health produced, and 2) the clinical benefit derived from a specific service depends on who receives it, who provides it, where it is provided. Our new video offers a visual guide to better understand clinical nuance.
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.
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 firstname.lastname@example.org.
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. [maxbutton id="13"]