Highlights from Dr. Fendrick:
“What was really exciting to me and has proved to be a national leadership point, was how quickly the delivery systems came to VCHI and volunteered to participate in this program. This to me is a sentinel for the fact that those who are providing care see that these ongoing efficiencies driven by lots of irrationalities of payment and coverage, can actually be overcome to spend our dollars better.”
“[Smarter Care Virginia] is the most well thought out multi-stakeholder implementation of strategies to reduce low-value care that I could think of. What is impressive about VCHI is the immediacy that all the key stakeholders in healthcare across the Commonwealth, embraced this idea that there’s enough money being spent on healthcare in the commonwealth and we can spend more on the good stuff if we spend less on the bad stuff.”
In this episode, Smarter Care Virginia team member Steve Horan, PhD, CEO of Community Health Solutions, chats with Dr. Fendrick about the opportunities to realign healthcare spending around value during the COVID 19 pandemic and beyond.
Our Guest: A. Mark Fendrick MD
Dr. Fendrick conceptualized and coined the term Value-Based Insurance Design (V-BID) and currently directs the V-BID Center at the University of Michigan, the leading advocate for development, implementation, and evaluation of innovative health benefit plans. His research focuses on how clinician payment and consumer engagement initiatives impact access to care, quality of care, and health care costs. Dr. Fendrick has authored over 250 articles and book chapters and has received numerous awards for the creation and implementation of value-based insurance design. His perspective and understanding of clinical and economic issues have fostered collaborations with numerous government agencies, health plans, professional societies, and health care companies.
Dr. Fendrick is an elected member of the National Academy of Medicine (formerly IOM), serves on the Medicare Coverage Advisory Committee, and has been invited to present testimony before the U.S. Senate Committee on Health, Education, Labor and Pensions, the U.S. House of Representatives Ways and Means Subcommittee on Health, and the U.S. Senate Committee on Armed Services Subcommittee on Personnel.
Dr. Fendrick is the co-editor in chief of the American Journal of Managed Care and is an editorial board member for 3 additional peer-reviewed publications. He is also a member of the Institute for Healthcare Policy and Innovation at the University of Michigan, where he remains clinically active in the practice of general internal medicine.
Dr. Fendrick leads the National Low-Value Care Task Force and is a faculty member of Smarter Care Virginia.