Jessie Stewart Richardson Memorial Lecture in Patient Quality and Safety

Value Based Payment in Academic Health Centers: A Pathway to Quality for Patients and Clinicians

Speaker: Barbara Markham Smith, JD

President, Barbara Smith Health Strategies

Former Vice-President of Community Health and Innovation

at VCU Health System

This lecture explores the purpose and operation of Value-Based Payment in academic medical centers (AMCs).  It focuses on the imperatives to move to a value-based paradigm as an essential mechanism through which to achieve the Quadruple Aim: higher quality, lower costs, better patient experience, and greater provider satisfaction. It describes the external drivers of change that challenge the future role and stability of AMCs and the significance of primary care in sustaining and enhancing AMCs. How to approach and manage the transition to a comprehensive embrace of VBP is key to the discussion.

The importance of addressing Social Determinants of Health (SDoH) emerges an essential component of VBP.  SDoH will be explained as a driver of quality throughout clinical care, an essential element of better outcomes individually and for population health, and a mechanism for higher rewards in VBP.