Wasteful spending on healthcare in the United States totals hundreds of millions of dollars each year, according to researchers at the University of Michigan’s Center for Value-Based Insurance Design. To combat this problem, many employers and payers are turning to value-based insurance design (VBID), which motivates consumers to use more effective care and guides them away from unnecessary and ineffective care. The result is greater value and effectiveness for every healthcare dollar spent. There are many variations of VBID and value-based benefit (VBB) programs on the market today, but generally these programs are designed to:
Value-based designs have been used primarily to tailor benefits and incentives to the needs of members who have chronic diseases such as diabetes. However, value-based benefits are now being extended to healthy populations as employers seek to encourage preventive care and appropriate lifestyle choices. A key factor in the success of VBID programs is automation, as value-based plans can be highly complex. Technology-enabled solutions are essential to the efficient management of these programs. That’s where TriZetto can help.
The TriZetto Value-Based Benefits Solution enables payers to build and manage customized benefit designs that incent consumers to manage chronic conditions, obtain timely preventive care and make healthy lifestyle choices.
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As a leading provider of healthcare IT solutions for payers and providers, TriZetto delivers innovative claims management systems, clinical care management solutions, core administration software and network management solutions that help reduce costs, streamline administration and improve the quality of care. TriZetto’s leading edge solutions are helping to transform the healthcare industry by better aligning health insurance incentives, speeding healthcare claim processing, promoting value-based benefits, improving population health management, and reducing the cost of claims processing services and supporting the accountable care organization.