Value Based Care - A Model For The Medical Tourism Industry
Medical providers in the United States have traditionally operated on a fee-for-service model. Under this model, insurers reimburse healthcare organizations for services rendered regardless of the outcome. But a new approach, value-based care, is gaining steam.
Value-based care links reimbursements to patient outcomes, incentivizing providers to prioritize the patient’s short and long-term health goals, as opposed to performative management style which emphasizes procedures.
The goal of value-based care is twofold: eliminate unnecessary spending and improve patient outcomes.