The Value-Based Insurance Design (VBID) Model was implemented during the Obama administration to increase quality of care and advance member satisfaction through improving the coordination and efficiency of healthcare.
Since its implementation, the VBID program has been expanded upon to promote cost neutrality and is one of the only programs implemented by the Obama administration that was expanded upon by the Trump administration. Plans participating in the model have the ability to improve care through a variety of avenues—including digital health platforms, medication and care plan adherence programs, initiatives for social determinants of health, and more.
Wellth is a new, positive approach to better health outcomes. Using the science of behavioral economics, Wellth supports organizations using value-based care models by addressing the unique obstacles that prevent people with chronic conditions from forming the habits necessary to create lasting change using financial incentives and personalized member support.
Whether it's utilizing VBID supplemental benefits to improve your digital health offerings, incentivizing medication and care plan adherence, or addressing social and economic disparities, Wellth partners with plans to find innovative solutions for making the most of the VBID model.
The VBID programs offer flexibility for “rewards and incentives” programs—allowing payers and providers to give higher value incentives for healthy behaviors like medication adherence and other key care plan behaviors.
The Wellth program financially incentivizes care and medication adherence to help payers meet critical Stars scores and quality metrics. Our programs are backed by the science of behavioral economics, leveraging loss aversion to improve adherence and outcomes.
As a result, Wellth has achieved a 89% average care plan adherence rate for members who were previously non-adherent.
With the VBID model, the cost of many supplemental benefits can be covered—even those that are not directly related to member care. This includes the cost of implementing many digital health and technology platforms, removing barriers of cost from tech implementation.
Wellth offers an already-affordable option for digital healthcare with no required connected devices and an implementation process that integrates seamlessly into existing workflows. Payers who include the cost of Wellth into their bids can further lower the cost—making digital health an effective and affordable option for improving member care.
The VBID Model emphasizes the importance of being able to identify social and economic determinants of health—encouraging spending that helps address these determinants for better member outcomes.
Wellth members are rewarded for care plan adherence with funds that can be used toward groceries, prescriptions, and other essentials. While the rewards are small, even a simple $30 a month can make a difference in having the money for a water bill, bus pass, or the next month's prescriptions. Benefits like this are accounted for in the VBID model, creating a win for both members—and the payers that support them.
To learn more about the VBID model, and how health plans are working to maximize its benefits, check out this upcoming webinar with AHIP where Wellth CEO, Matthew Loper, and leading VBID expert, Dr. Mark Fendrick, share what you need to know about the model's key goals and guidelines—and how to succeed in navigating an increasingly value-based care space—in this one hour AHIP webinar and Q&A.