A. Mark Fendrick, M.D.
Dr. Fendrick, a founding Partner of VBID Health, is Director of the University of Michigan Center for Value-Based Insurance Design (www.vbidcenter.org), which he co-founded. Dr. Fendrick remains clinically active in the practice of general internal medicine, seeing patients weekly. He is also a Professor in the Department of Internal Medicine and the Department of Health Management and Policy at The University of Michigan.
Dr. Fendrick is one of three U-M faculty that first developed and named the concept "Value-Based Insurance Design (V-BID)." Through his leadership at the U-M Center for Value-Based Insurance Design, he has been acknowledged by Managed Care as a "leading authority" on the topic, which became part of the health care law in 2010. He is a leading advocate for development, implementation, and evaluation of innovative health benefit plans.
Dr. Fendrick has authored over 200 articles and book chapters and lectures frequently on the quality and cost implications of medical care to diverse audiences around the world. He is the Co-editor in chief of the American Journal of Managed Care and is an editorial board member for three additional peer-reviewed publications. His perspective and understanding of clinical and economic issues have fostered collaborations with numerous government agencies, health plans, professional societies, and health care companies. He serves on the Medicare Coverage Advisory Committee. In 2009, he was named one of the "20 people who make healthcare better" by HealthLeaders Media for the creation and implementation of value-based insurance design.
Michael Chernew, Ph.D.
Dr. Chernew, a founding Partner of VBID Health, is a Professor of Health Care Policy in the Department of Health Care Policy at Harvard Medical School. He was one of the original creators of the VBID Concept and he co-directed the University of Michigan Center for Value-Based Insurance Design (www.vbidcenter.org) with Dr. Fendrick before joining Harvard.
Dr. Chernew's research examines several areas related to controlling health care spending growth while maintaining or improving the quality of care. His work on consumer incentives focuses on Value Based Insurance Design, which aligns patient cost sharing with clinical value. Several large companies have adopted these approaches and Dr. Chernew's ongoing work includes evaluations and design of such programs. His work on payment reform involves evaluation of bundled payment initiatives, including global payment models that include pay-for-performance components. Related research examines the effects of changes in Medicare Advantage payment rates. Additional research explores the causes and consequences of rising health care spending and geographic variation in spending, spending growth, and quality.
Dr. Chernew is the Vice Chairman of the Medicare Payment Advisory Commission (MedPAC), which is an independent agency established to advise the U.S. Congress on issues affecting the Medicare program. He is also a member of the Congressional Budget Office's Panel of Health Advisors, the Institute of Medicine's Committee on Determination of Essential Health Benefits, and The Commonwealth Foundation's Commission on a High Performance Health Care System. In 2000, 2004 and 2010, he served on technical advisory panels for the Center for Medicare and Medicaid Services (CMS) that reviewed the assumptions used by the Medicare actuaries to assess the financial status of the Medicare trust funds. On the panels, Dr. Chernew focused on the methodology used to project trends in long-term health care cost growth. His 2008 article in Health Affairs "Impact of Decreasing Copayments on Medication Adherence within Disease Management Program" was awarded the Research Award from the National Institute for Health Care Management.
David Edman, MBA
Mr. Edman is the Managing Partner of VBID Health. He is the founder of Risk Management Partners LLC, a health care consulting firm focused on value-based purchasing in Wayne, Pennsylvania. Mr. Edman's passion is "Making Healthcare Understandable, Affordable, and Actionable". He has worked in the healthcare industry for over 35 years, since receiving his MBA in Health Services Management and Finance from The Kellogg School at Northwestern University in 1978. His undergraduate degree is in Economics is from the Wharton School at the University of Pennsylvania.
David has worked with all types and sizes of private sector businesses, and addressed public policy at both state and federal levels, including Medicare Advantage. He is a member of the Pennsylvania Leadership Council for the National Federation of Independent Business (NFIB). Previously served on the Board of Directors of the Delaware Valley Industrial Resource Center (DVIRC), and is Senior Scholar in the Department of Health Policy at Thomas Jefferson University. In addition to employers, David's clients have included several health insurance companies and national unions based in Washington, DC.
Some of his notable accomplishments include: consultant and the first CEO of a provider-owned HMO that later merged with Aetna Health Plans; developed a 20+ year old Bermuda-based captive insurance company owned by 9 hospitals with over $100 million in assets; implementation of consumer driven healthcare strategies for numerous purchasers that have succeeded in "bending the cost curve"; speaker, writer, and blogger on contemporary healthcare issues facing businesses, individuals, and government.