Question

Provide the Cons vs Pros for the concept of value-based purchasing, as required by the ACA

Answer 1

#. Pros Value-Based Purchasing :-

- Patients have the right to hold their care providers accountable for not only the quality of services but also the cost. Value-based purchasing is designed to improve the quality of care overall and to cut down on the number of lawsuits due to poor quality and costs. It is hoping to motivate care providers to do only their best on the job. This also means reducing the discrepancies in allowable charges and more lower deductibles.

- Even though patient satisfaction alone is not necessarily a sign that the company provides satisfactory care, it is a good sign that care providers are becoming more sensitive to what the patients actually need. Healthcare research has been catching up to the fact that the lack of incentive not preventing high volumes of tests, etc. that the patient does not really need. -reduction in other medical errors. Research has also been catching up to the fact that a majority of clinical funds have, unfortunately, been going towards ineffective and even harmful resources. Value-based purchasing is aimed at improving this and more.

- Aside from rewarding care providers who provide the best care, value-based purchasing also aims at other proactive measures such as awareness and prevention of illnesses. They also capitalize on financial rewards for such successful coordination.

- Employers can adjust their benefits packages according to their insurers’ recommendations. Employees also get rewarded for things like smoking cessation and weight loss, which promotes healthy living habits.

Cons Value-Based Purchasing are :-

- Holding care providers accountable for the wrong services and completely missing the services that they did provide.

- Complex cases may still be difficult especially on hospital value-based purchasing and home health value-based purchasing. It poses a certain risk that care providers will be penalized for caring for such cases and providing evidence-based services.

- Risk of misleading patients as to which care providers provide lower cost services.

- Risk of failing to provide the actionable information that cares providers need in order to keep improving their services.