Pay for Performance (P4P)or Value Based Purchasing (VBP)are Terms That

question 9

True/False

Pay for performance (P4P)or value based purchasing (VBP)are terms that describe health care payments systems which reward health care providers for their efficiency by providing higher quality care for less cost.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to specialized trade benefits.

Special Natural Endowment

Unique natural resources or advantages that a country or region possesses, which can provide a competitive edge in certain industries or sectors.

Japanese Dominance

A period or concept where Japan excels or has excelled significantly in certain industries or economic sectors, outperforming competitors.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.