What does the term "value-based care" refer to?

The term "value-based care" refers to a healthcare delivery model that emphasizes improving patient outcomes and the quality of care provided, rather than simply the volume of services rendered. In a value-based care system, providers are incentivized to deliver high-quality care that leads to better patient health outcomes, reducing unnecessary treatments and hospitalizations. This approach shifts the focus from the quantity of care to the effectiveness and impact of that care on patients' health.

Value-based care models often incorporate measurable outcomes and may include various methods to assess the effectiveness of healthcare services, such as patient recovery rates, management of chronic diseases, and overall health improvements. Stakeholders, including providers and payers, are increasingly adopting this approach to enhance healthcare quality while managing costs. Thus, the emphasis in value-based care is on achieving superior health outcomes for patients, which ultimately supports the notion of care that emphasizes value over volume.