Pay For Performance (healthcare)
Pay for performance is an emerging movement in health insurance (initially in Britain and United States). Providers under this arrangement are rewarded for meeting pre-established targets for delivery of healthcare services. This is a fundamental change from fee for service payment.
Also known as "P4P" or “value-based purchasing,” this payment model rewards physicians, hospitals, medical groups, and other healthcare providers for meeting certain performance measures for quality and efficiency. Disincentives, such as eliminating payments for negative consequences of care (medical errors) or increased costs, have also been proposed. In the developed nations, the rapidly aging population and rising health care costs have recently brought P4P to the forefront of health policy discussions. Pilot studies underway in several large healthcare systems have shown modest improvements in specific outcomes and increased efficiency, but no cost savings due to added administrative requirements. Statements by professional medical societies generally support incentive programs to increase the quality of health care, but express concern with the validity of quality indicators, patient and physician autonomy and privacy, and increased administrative burdens.
Read more about Pay For Performance (healthcare): Preliminary Studies and Trends, Commentary By Physician Organizations
Famous quotes containing the words pay and/or performance:
“Anxious to publicise and pay our dues
Contracted here, we, Bernard Noel Hughes
And Philip Arthur Larkin, do desire
To requite and to reward those whom we choose;
To thank our friends, before our time expire,
And those whom, if not friends, we yet admire.”
—Philip Larkin (19221986)
“So long as the source of our identity is externalvested in how others judge our performance at work, or how others judge our childrens performance, or how much money we makewe will find ourselves hopelessly flawed, forever short of the ideal.”
—Melinda M. Marshall (20th century)