Value-Based Benefits: Are We There Yet?
VBBD and similar health insurance programs still have many challenges to overcome before they claim widespread acceptance. Among them, health plans and employers are working to better determine whether a value-based program makes sense in their particular situation. According to reports, some companies rushed into VBBD based on study results, but after further analysis of their population data, determined it wasn't a good fit.
Also required is additional research into the "science" of VBBD to identify tangible results. Asks Hom, how effective are the programs across the industry? How do we define what conditions are of high value? How do we determine a program's ROI. It's these questions and more that are at the center of the current value-based debate. "There is an opportunity to really transform the industry through data analytics and make it actionable for employers and health plans," he said.
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