Hospice Value Based Insurance Design (VBID) Cheat Sheet
Hospice Value-Based Insurance Design (VBID) is an approach that aims to align the cost of hospice care with the value it provides to patients. It recognizes that hospice care can improve the quality of a patient’s life and reduce unnecessary hospitalizations for patients with a terminal illness. Hospice VBID encourages coordination and communication among healthcare providers to ensure patients receive appropriate hospice care.
Ultimately, VBID seeks to optimize the allocation of resources in hospice care to achieve better outcomes for patients and offer more efficient use of healthcare resources. This would result in an overall better end-of-life experience for patients.
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