Describe the concept of “value-based care.”

The concept of "value-based care" centers around a healthcare delivery model that prioritizes patient health outcomes and the quality of care provided, rather than the sheer volume of services performed. Under this model, healthcare providers are incentivized to improve the overall health of their patients, which encourages them to focus on preventive care and effective management of chronic conditions. This approach aims to achieve better patient outcomes while controlling costs and enhancing the patient experience.

By recognizing and rewarding providers for achieving specific health outcomes, the value-based care model promotes a more efficient healthcare system that strives for quality and effectiveness. This stands in contrast to fee-for-service models that pay providers for each service rendered, irrespective of the care outcome. Thus, value-based care transitions the focus from quantity to quality, ensuring that patients receive appropriate, timely, and effective care aligned with their individual needs.