Value Based Incentive Fund definition

Value Based Incentive Fund or “VBIF” means funding that is set aside by ACO during the Performance Year to incentivize and reward the network. The funds are reserved by ACO from Risk Participants’ prospective payments at levels required by the ACO Program Agreements. The funds are earned under each ACO Program by meeting set criteria (usually performance on designated quality measures) established in each ACO Program Agreement and unearned funds may revert to the Payers. Once earned by the ACO, the VBIF funds will be distributed to the network with 70% allocated to attributing primary care providers based on attribution. The remaining 30% will be distributed to the remainder of the network based on proportions of Performance Year Total Cost of Care allocable to qualified providers.
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Value Based Incentive Fund or “VBIF” means funding that is set aside by ACO during the Performance Year to incentivize and reward the network. The funds are reserved by ACO from Risk Participants’ prospective payments at levels required by the ACO Program Agreements or as set forth by the Board of Managers. The funds are earned under each ACO Program by meeting set criteria (usually performance on designated quality measures) established in each ACO Program Agreement and unearned funds may be owed to the Payers. Once earned the VBIF will be distributed to the network in accordance with the Board approved Value Based Incentive Fund Policy.
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Examples of Value Based Incentive Fund in a sentence

  • Once State has received both a Value Based Incentive Fund report and its corresponding invoice no earlier than two weeks after report submission, State shall pay out that invoice within 30 days to Contractor.

  • Contractor agrees to submit Value Based Incentive Fund reports to State.

  • Participants and Preferred Providers will receive primary care support and care coordination payments in accordance with ACO Policies and the Participant Agreement, as incorporated more fully herein, except there is not a Value Based Incentive Fund for this Program.

  • The Value Based Incentive Fund (“VBIF”) will be paid according the Board approved Value Based Incentive Fund Policy for Performance Year 2020.

  • Of the $2.0 million Value Based Incentive Fund, $500,000 in value-based payments shall be issued by Contractor to Vermont designated mental health agencies based on Contractor’s BOM-approved targets and methodology.

  • A DVHA-funded Value Based Incentive Fund of up to $2.0 million, from which DVHA shall issue monthly value-based payments to Participating Providers and Preferred Providers based on Contractor’s Board of Managers (BOM)-approved quality initiatives throughout the Performance Year.

  • A DVHA-funded Value Based Incentive Fund of up to $2.12 million, from which Contractor shall issue monthly value-based payments to Participating Providers and Preferred Providers based on Contractor’s Board of Managers (BOM)-approved quality initiatives throughout the Performance Year.

  • A DVHA-funded Value Based Incentive Fund of up to $2.0 million, from which Contractor shall issue monthly value-based payments to Participating Providers and Preferred Providers based on Contractor’s Board of Managers (BOM)-approved quality initiatives throughout the Performance Year.

  • Of the $2.0 million Value Based Incentive Fund, $500,000 in value-based payments shall be issued by DVHA to Vermont designated mental health agencies based on Contractor’s BOM-approved targets and methodology.

  • The Board will adopt a Value Based Incentive Fund Model (VBIF) for Performance Year 2019, subject to any required regulatory approvals.