WASHINGTON, May 2, 2017 /PRNewswire/ -- A national partnership led by two business organizations representing Fortune
"It's absolutely critical for the health of Americans and our economy that value-based care is quickly embedded in the health care system," said David Lansky, President and CEO of the Pacific Business Group on Health. "Policymakers must focus on what works to achieve these goals, and we know that value-based care helps to drive down costs and improve patient outcomes."
America spends far more than any other country on health care, but our outcomes are below average compared to other developed countries on many key health care indicators. Health care spending outpaces GDP and inflation growth, sapping America's economic health. This misalignment in spending and outcomes is partially the result of the fee-for-service payment model, which pays solely for the volume of health care services without regard to quality, and is still used in over 80 percent of health care transactions.
Value-based care and market-based strategies — including value-based payment, transparency, consumer engagement, and healthy competition — have the proven potential to incentivize high-quality patient care. This market-based approach builds upon 20 years of innovation in payment, benefit design and consumer engagement by the business community. Value-based care ensures patients receive better care and can make more informed choices, providers are rewarded for achieving quality patient outcomes, purchasers are paying for what works, and businesses can invest in jobs and innovation.
"Value-based care should be front and center when policymakers look for ways to improve quality and make health care more accessible and affordable," said Annette Guarisco Fildes, President and CEO of The ERISA Industry Committee. "Remember, the government pays for insurance for about 100 million people. In order to cut taxes and fund other national priorities, we've got to drive government efficiency, effectiveness and accountability — and there is no better or more proven way to do that than promoting value-based care, short of curing diseases altogether."
The Initiative's policy blueprint, found on its website www.DRIVEhealth.org, urges immediate targeted deregulation and other actions to break down policy barriers that discourage value-based care innovation and prevent the health care market from delivering valuable products at affordable costs. The Initiative also urges the administration, as the largest single purchaser of health care, to align with private sector purchaser strategies and continue to progress toward value-based care. The blueprint focuses on the following elements:
About The ERISA Industry Committee (ERIC)The ERISA Industry Committee (ERIC) is the only national association that advocates exclusively for large employers on health, retirement and compensation public policies at the state, federal and local levels. ERIC members are the largest companies in the country, leaders in every sector of the economy and innovators in health care design and delivery through providing health coverage to their employees, retirees, and families across the the country. Learn more at eric.org.
About the Pacific Business Group on Health (PBGH)The Pacific Business Group on Health (PBGH) is a non-profit business coalition focused on improving the quality and affordability of health care. The group represents more than 60 large health care purchasing members, who provide coverage to nearly ten million individuals in the United States. PBGH supports some of the largest companies in the country in implementing innovative solutions to improve health care outcomes and value. Learn more at pbgh.org.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/facing-rising-costs-business-groups-urge-trump-administration-to-accelerate-market-based-health-care-reforms-300449244.html
SOURCE Pacific Business Group on Health
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