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Towards Value‐Based Health Care in Medicare
Author(s) -
Scott Anthony
Publication year - 2015
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/1467-8462.12121
Subject(s) - value based purchasing , payment , incentive , purchasing , actuarial science , value (mathematics) , schedule , business , incentive program , health care , medicine , marketing , finance , economics , computer science , management , machine learning , microeconomics , economic growth
This article discusses a number of options for supporting value‐based health care in Medicare using value‐based payment models. These include: best practice Medicare rebates for specialists; strengthening what Medicare items are included and excluded from the Medicare Benefits Schedule; pay‐for‐performance for general practitioners tied to rebate supplements on the Medicare Benefits Schedule or through an expanded Practice Incentive Program; and best practice case‐mix payments and pay‐for‐performance for hospitals. Caution, careful design and rigorous evaluation are necessary if value‐based purchasing is to be used to strengthen Medicare.