The economic crisis in America, over the last few years, has affected everyone, especially healthcare facilities. Healthcare cost has increased more than the rate of inflation for many years. Medicare is trying to find ways to reduce costs. One of these ways is called Value-based purchasing (VBP). This program was authorized by the Patient Protection and Accountable Care Act of 2010, and gives the Centers for Medicare & Medicaid Services (CMS) (this is the part of Medicare that sets the reimbursement rates for Medicare) the power to base a portion of hospital reimbursement payments on how well hospitals perform on treating patients and on patient satisfaction scores. Write a 4 page paper Define and describe what Value Based Purchasing (VBP) is. Evaluate and explain in writing the role the Centers for Medicare & Medicaid Services (CMS) plays in VBP. Define and describe the purpose of VBP. Compare and contrast VBP and Pay for performance.
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