The University of Michigan Center for Value-Based Insurance Design (V-BID Center) leads in research, development, and advocacy for innovative health benefit plans. A multidisciplinary team of faculty, including A. Mark Fendrick, M.D., Dean Smith, Ph.D, and Michael Chernew, Ph.D, first published and named the V-BID concept, and have guided this approach from early principles to widespread adoption in the private and public sectors. The idea began in a local Ann Arbor, Michigan restaurant when the team of faculty realized that a new, “clinically sensitive” approach to health care would be to align patients’ out-of-pocket costs, such as copays and premiums, with the value of health services. By reducing barriers to high-value treatments (through lower costs to patients) and discouraging low-value treatments, these benefit design plans can achieve improved health outcomes at any level of health care expenditure.
V-BID has been recognized as an important public policy measure for balancing costs and quality in health care at the local, state, and federal level. On June 17th, 2015 the U.S. House of Representatives passed The Strengthening Medicare Advantage through Innovation and Transparency for Seniors Act of 2015 with bipartisan support. The bill includes a V-BID demonstration project that would allow Medicare Advantage plans to lower copayments and coinsurance for their beneficiaries and would encourage the use of high-value, evidence based medical services to better manage chronic conditions. A companion bill, Value-Based Insurance Design Seniors Copayment Reduction Act of 2015, was introduced to the Senate in May 2015.
V-BID initiatives aim to improve various sectors of health care to ensure that every American can enroll in a V-BID plan. Our initiatives include High Deductible Health Plans, Medicare/Medicare Advantage, Specialty Pharmaceuticals, State Medicaid Plans, and State Employee Health Plans.
To learn more visit our website at vbidcenter.org.
Company Details
- Employees
- 7
- Founded
- -
- Address
- 2800 Plymouth Rd, Bldg 16
- Industry
- Hospitals And Health Care
- NAICS
-
Health Care and Social AssistanceSocial Assistance
- Website
- vbidcenter.org
- Keywords
- Health Care Insurance Design, Health Policy, Medicare, Medicare Advantage, High Deductible Health Plans, Consumer Access to High-Value Healthcare, Healthcare, Clinical Nuance, High-Value Health Plans, Benefit Design, Health Reform, Payment Reform, Cost-Sharing.
- HQ
- Ann Arbor, MI
- Competitors
- Health Care Association of Michigan, WellsBrooke Home Health Care, HOPE At Home Health Care, Metastatic Breast Cancer Alliance, Institute for Healthcare Policy and Innovation, Alliance Home Health Care Services, Diamond Home Health Care & Hospice, MSU Health Care, XO Health Inc., University of Michigan Health Plan.
University Of Michigan Center For Value-Based Insurance Design Questions
University Of Michigan Center For Value-Based Insurance Design's website is vbidcenter.org
University Of Michigan Center For Value-Based Insurance Design's LinkedIn profile is https://www.linkedin.com/company/center-for-value-based-insurance-design
University Of Michigan Center For Value-Based Insurance Design has
7 employees.
View email and phone details for 7
employees at University Of Michigan Center For Value-Based Insurance Design.
University Of Michigan Center For Value-Based Insurance Design's industry is
Hospitals and Health Care
University Of Michigan Center For Value-Based Insurance Design's top competitors are
Health Care Association Of Michigan,
Wellsbrooke Home Health Care,
Hope At Home Health Care,
Metastatic Breast Cancer Alliance,
Institute For Healthcare Policy And Innovation,
Alliance Home Health Care Services,
Diamond Home Health Care & Hospice,
Msu Health Care,
Xo Health Inc.,
University Of Michigan Health Plan.
University Of Michigan Center For Value-Based Insurance Design's categories are Hospitals and Health Care
University Of Michigan Center For Value-Based Insurance Design's founding year is 2005
