The Tradeoffs Behind Value-Based Care | Harvard Professor Dr. Meredith Rosenthal

Today’s guest is Dr. Meredith Rosenthal, the C. Boyden Gray Professor of Health Economics and Policy at the Harvard T.H. Chan School of Public Health, where her work focuses on the behavioral economics and incentives behind value-based care.In this episode, we discuss why healthcare is filled with tradeoffs, from how doctors are paid to how hospitals are held accountable for quality and outcomes. Dr. Rosenthal breaks down the difference between fee-for-service and value-based payment, and why designing better incentives is much harder than simply rewarding “better care.” We also explore the behavioral economics behind healthcare decision-making, including how payment models can affect providers, patients, equity, and access. Finally, we talk about the future of value-based care, the limits of measuring quality, and whether payment reform can help address America’s healthcare affordability crisis.