Posted on 01. Jun, 2009 by admin in Press Releases
ST. LOUIS, Mo. – June 1, 2009 – Citing an op-ed in the Houston Chronicle (5/28) where Sen. Kay Bailey Hutchison (R-TX) wrote, “One of the most promising new concepts in health care delivery is Value Based Insurance Design (VBID), which offers the potential to simultaneously improve health care quality while reducing costs,” industry leaders Cyndy Nayer, president and CEO of the Center for Health Value Innovation (www.vbhealth.org), and Mark Fendrick, M.D., co-director of the Michigan Center for VBID (http://www.sph.umich.edu/vbidcenter/), affirm the positive direction of VBID.
“We applaud Senator Hutchison’s foresight and encouragement to realize the true promise of VBID: improved health care outcomes that will slow health cost inflation,” says Nayer, speaking for the Center, the nation’s premier organization dedicated to establishing value and producing evidence for sustainable health and financial improvement. “By re-balancing expenses and linking appropriate care with better outcomes, VBID advances both health and economic security for businesses and individuals. It is a fundamental step forward to achieving financial well-being in our communities and across the nation.”
Nayer and Dr. Fendrick concur with Senator Hutchison’s assessment of rising healthcare costs as a threat to the competitiveness of businesses across the country and an added burden for families who are struggling to make ends meet.
Dr. Fendrick asserts, “Senator Hutchison’s characterization of VBID as simple yet transformative idea is direct and to the point: cost barriers should be removed for ‘high-value’ care and treatments. This should resonate with government and private sector leaders. Her astute observation embodies the tenets of VBID: that a medicine or procedure is deemed high-value when evidence shows that we can maximize the health benefits to patients compared to dollars spent.”
About The Center for Health Value Innovation:
Information exchange for value-based design
Launched in 2007, The Center for Health Value Innovation is a multi-stakeholder not-for-profit (501c3) alliance focused on employers that drives the financial value of health dollars. www.vbhealth.org <http://www.vbhealth.org> .
About University of Michigan Center for Value-Based Insurance Design
The Center for VBID develops, evaluates, and promotes value-based insurance initiatives to ensure efficient expenditure of health care dollars and maximize benefits of care.
(http://www.sph.umich.edu/vbidcenter/)
Tags: Fendrick, Nayer, value-based benefit design, VBID
