Bringing Value-Based Insurance Design to Oncology

Although the oncology field has been increasingly adopting value-based insurance designs, much work yet remains. For decades, the traditional dogma preached by managed care was that patients should pay a portion of every service or medication they receive so that they have  “skin in the game.” Some however, such as Mark Fendrick, MD, director of the Center for Value-Based Insurance Design at the University of Michigan, believe that many services are so vital to life and health that it is more cost-effective to eliminate out-of-pocket costs for them entirely.

“I like to think VBID is the new skin in the game. It starts with identifying ‘high value’ and ‘low value’ care, because eliminating waste can pay for the screenings that save lives down the road.” Fendrick said. Read more here.

(Source: Mark Caffrey; AJMC; 10/29/20)