Payors have clearly proven that hospitals that provide high-quality care also are the ones that are the most efficient and cost effective. Pay-for-performance (P4P) is a strategy to offer incentives to providers for delivering higher-quality care as measured by selected evidence-based standards and procedures. In its current form, P4P will reward the high performers not only with additional reimbursement but also with additional patient volume. This is in part due to its sibling policies of consumerism and transparency that are components of the Value Based Purchasing (VBP) policies that payors are adopting in the reimbursement of health care services.
Panelists for this session included: Brett M. Hickman, Partner, Health Industries Advisory Practice, PricewaterhouseCoopers LLP; Michael N. Neuss, M.D., Oncology Hematology Care, Inc.; and Warren H. Skea, Ph.D., Manager, Health Industries Advisory Practice, PricewaterhouseCoopers LLP.