ValueBased Care vs FeeforService Care

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The US healthcare system is slowly replacing its traditional fee-for-service care model with value-based care. This is the difference between both payment models. • Fee-for-service care is the old school, traditional model of healthcare payments. With fee-for-service, payments are made directly based on the amount of service patients receive, regardless of the quality of those services. The model heavily rewards patient volume, as more patients seen means more money generated. • The system is more common among private practices, although there are some hospitals that continue to follow this payment model. • With value-based care, instead of reimbursing physicians for each individual service they render, reimbursement is tied to the quality and effectiveness of the care provided. • Value-based care excels at reducing unnecessary services, creates physician accountability to ensure patient satisfaction, and produces incentives for preventive healthcare. • However, it’s difficult to implement because patient outcomes can be tough to measure accurately, and it comes with a more stressful, error-prone billing process. • There is a strong national push to reduce healthcare spending by stopping unnecessary tests and procedures from being performed. To achieve this goal, the US may be able to slowly transition to a value-based care system in the coming years and decades. • 💌 Sign up for my weekly newsletter - https://medschoolinsiders.com/newsletter • 🌍 Website - https://medschoolinsiders.com • 📸 Instagram - / medschoolinsiders • 🐦 Twitter - / medinsiders • 🗣️ Facebook - / medschoolinsiders • 🎥 My Youtube Gear: https://kit.co/kevinjubbalmd/ • 👀 Hand-Picked Productivity Tools: https://www.amazon.com/shop/medschool... • 🎵My Study Playlist: https://open.spotify.com/user/1231934... • #healthcaresystem #healthcareprofessionals #healthcareproviders #healthcareprofessionals #healthcareworkers #publichealth #healthpolicy #healthcare #healthcareindustry #healthservices #doctors #usahealth #valuebasedcare #feeforservice #shortsviral #shortsyoutube #medicalshorts #doctorshorts • ==================== • Disclaimer: Content of this video is my opinion and does not constitute medical advice. The content and associated links provide general information for general educational purposes only. Use of this information is strictly at your own risk. Kevin Jubbal, M.D. and Med School Insiders LLC will not assume any liability for direct or indirect losses or damages that may result from the use of information contained in this video including but not limited to economic loss, injury, illness or death. May include affiliate links to Amazon. As an Amazon Associate, I may earn a commission on qualifying purchases made through them (at no extra cost to you).

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