Noah M. Raizman
PaymentActuarial scienceRelative valueFee-for-serviceQuality (business)ReimbursementOpt-outIncentiveBundled paymentsMedicine
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In 1992, the use of relative value units to link a particular payments with specific services was initiated to replace traditional fee for service. The system incentivizes volume rather than quality. In 1997, initiatives were formalized to emphasize quality measures. Physicians must participate in the Merit-based Incentive Payment System (MIPS). Physicians can opt out of MIPS if they participate in an Alternative Payment Model such as Bundled Payments. Reimbursement based on an episode of care r...
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