MBGH hosted a successful Value-Based Insurance Design webinar on Thursday, November 4,2010 with A. Mark Fendrick, MD, co-Director of the Center for Value-Based Insurance Design at the University of Michigan.
MBGH has been working with Mark since February 2008, when MBGH launched our value-based benefits initiative to educate our members and Memphis-area employers on the principles of value-based benefits and to assist them in identifying opportunities to deploy those principles in their own health benefit offerings.This initiative supports the Aligning Forces for Quality project consumer engagement strategies to motivate people to use high value health care services to help them stay as healthy as possible for as long as possible.
Key takeaways from the webinar include:
- The focus should be on getting the most health possible for the dollars invested.
- Co-pays, deductibles, and other financial tools used in health benefits should not be "one-size-fits-all" but should be lower or non-existent for those health services we want employees to use and higher for health services that have little or no value.
- Value-based insurance design is not designed to save money in the short-term, but to increase the amount of "Health" for the dollars spent. However, if deployed with a balance in increasing co-pays and deductibles for low-value services, value-based benefit design can be cost neutral or produce savings over time.
- Value-based insurance design is baked into Health Reform and due to early bi-partisan support for the approach, should continue even if the Republicans are successful in revising the legislation.
The November 2, 2010 edition of Health Affairs is dedicated to value-based insurance design. Mark's article on ""Applying Value-Based Insurance Design to Low-Value Health Services" is especially interesting.
MBGH's report on our 2008 project drilling down into employers' health plan data to determine if diabetics were receiving high value services will provide you with a general understanding of how to identify opportunities within your plan to implement value-based insurance design.