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Importance of Value Based Purchasing Training

Training staff on Value Based Purchasing methods is important for many reasons, and here are just few of those reasons:

 1. Reduces Costs

 

Value Based Purchasing reduces the frequency of misdiagnosis and treatments that aren’t beneficial to a patient’s care. VBP plans combine information regarding patient outcomes and medical cost data, which reduces the cost that the facility has to spend on one specific patient. Ideally, any outcome that is produced from VBP plans can result in satisfaction with insurers and allows facilities to compete in a competitive healthcare market. 

 2. Improves Patient Satisfaction

 

VBP reduces medical errors and rewards the facilities with the best patient care. Patient satisfaction is an important marker that health care administration uses to measure performance. Proper staff training on Value Based Purchasing can emphasize this importance, and allow staff to learn what is expected of them in terms of giving quality care to patients. 

 3. Reduces Medical Errors

 

Medical errors are a costly and pressing concern amongst healthcare facilities and insurance providers. A large portion of funds goes towards ineffective or harmful treatments. Better training on reporting medical errors allows for medical errors to be reduced. This has improved service quality tremendously. 

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