What is Value Based Insurance Design (VBID) intended to achieve?

Value Based Insurance Design (VBID) is intended to align patient incentives with the value of healthcare services, thereby promoting better health outcomes and reducing unnecessary expenditures. The key goal of VBID is to lower out-of-pocket costs for high-value services that lead to positive health outcomes, while potentially increasing costs for low-value services that do not provide significant benefits.

By focusing on patient engagement, VBID encourages individuals to become more active participants in their healthcare decisions. It promotes the idea that when patients are rewarded (or not penalized) for choosing high-value care options, they are more likely to engage in preventive health measures and adhere to necessary treatments, ultimately leading to improved health outcomes.

The emphasis on patient engagement is crucial, as it fosters a healthcare environment where individuals are motivated to make informed choices about their care, leading to better management of their health and wellness. This helps reduce the overall cost burden on the healthcare system while enhancing the quality of care provided to patients.

Wider access to specialists is not a primary focus of VBID; instead, it centers on value and outcomes rather than simply increased access. Thus, while patient engagement is a significant component of VBID, the overall intent is to create a healthcare paradigm that emphasizes the value of