Description
Describe the evolution of value-based purchasing. Explain if there is a difference between value-based purchasing (VBP) and pay-for-performance (P4P).
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o elaborating on the topic presented above
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o presenting reasons for or against a topic in a persuasive fashion,
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Explanation & Answer
Attached.
Running head: VALUE-BASED PURCHASING
1
Value Based Purchase
Name
Institution Affiliation
Date
VALUE-BASED PURCHASING
2
Value-Based Purchasing (VBP) program is today used as a center for Medicaid and
Medicare Services (CMS) initiative rewards acute-care hospitals with incentive payments for the
quality of care they provide people with Medicare. VBP was initiated to improve patient’s care
and minimize costs which are used by patients to receive healthcare services. VBP program
primary goal to encourage hospitals to improve the quality and safety of care for Medicare
beneficiaries and other patients who receive acute care inpatients (BIEBER, and ANNABLE,
2016). VBP has let to cost neutral design and hospitals are now focusing their attention on
rewards and not penalties. The 2% cost reduction obtained from the program is paid back to
hospitals who are t...
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