Discussions about health insurance almost always include at least an allusion to value. Whether the carrier is implementing a value-based payment model or whether the employer is attempting to get more bang per buck via a wellness program, value (or lack thereof) has become an integral facet of the American health care debate.

When it comes to the discussion of integrating value into health care, policy experts on payer, provider and academic sides all mention the work of the University of Michigan's Center for Value-Based Insurance Design, established in 2005. Since then, Center director and originator of the V-BID concept, Dr. A. Mark Fendrick, has focused his research and policy efforts to help Americans get more health out of every health care dollar.

He notes that a common response by public and private payers to escalating health expenditures is the shifting of costs to consumers.