Symplur: Value-Based Purchasing

Value-based purchasing (VBP) in healthcare refers to a payment model where healthcare providers are reimbursed based on the quality of care they provide, rather than the volume of services they offer. The goal of VBP is to improve the overall quality of care while reducing costs by incentivizing providers to focus on outcomes, patient satisfaction, and efficient use of resources.

VBP programs may include financial incentives or penalties based on performance metrics such as patient satisfaction scores, readmission rates, and health outcomes. Providers who deliver high-quality care can receive bonuses, while those who fail to meet performance standards may face penalties or reductions in reimbursement.

VBP is seen as a way to shift the healthcare system from a fee-for-service model to one that rewards outcomes and improved patient health. By promoting value over volume, VBP aims to reduce waste and improve patient outcomes, leading to a more efficient, high-quality healthcare system.