VBP

What is the Value Based Purchasing Program ?

This program implement value-based purchasing to the payment system that accounts for Medicare spending, affecting payment for inpatient stays in over 3,500 hospitals across the country.

Hospitals are paid for inpatient acute care services based on the quality of care, not just quantity of the services they provide.

The VBP program was designed to promote better clinical outcomes for hospital patients, as well as improve their experience of care during hospital stays. Specifically, Hospital VBP seeks to encourage hospitals to improve the quality and safety of care that Medicare beneficiaries and all patients receive during acute-care inpatient stays by:

• eliminating or reducing the occurrence of adverse events (healthcare errors resulting in patient harm)
• adopting evidence-based care standards and protocols that result in the best outcomes for the most patients
• re-engineering hospital processes that improve patients’ experience of care

Basically, medicare is purchasing value care from providers.