TRICARE is a health care program of the United States Department of Defense Military Health System. It caters the need of civilian health benefits for military personnel, military retirees, dependents, and the reserved components. The expenditure of the TRICARE is up on the rise and in order to meet the expenditures, Value – based Insurance design has come to force.
If you are working in any of the mentioned functionaries, then TRICARE program does benefit to communities in the US military, and they are active duty service members, active duty family, retired service members and family, TRICARE- eligible beneficiaries who have Medicare Part A&B, members of the selected reserve & family, and retired reserve members, family, and survivors. With the increasing burden on the TRICARE, there is a continuous rise on the costs due to innovative therapies, increased prices, and enhanced utilization.
In such circumstances, the most common change in the operations of the TRICARE could be a cost shifting to consumers and this is one way to control cost spending by the US government. Over time, the average out-of-the-pocket cost of every individual began to increase year after year. Now, with the increase in the cost sharing would lead to the reduction in the use of high-value clinical services that may cause a negative impact.
How High-value Clinical Services Cause a Negative Impact?
- Adverse health effects
- Worsening disparities
- Potentially increased costs
With V-BID plans that are introduced in TRICARE, they would promote the following benefits:
- Promote efficient expenditures
- Increase use of high-value services and providers
- Enhancement of the clinical outcomes
- Get aligned with provider initiatives