OBJECTIVES: As health systems start to discuss alternative payment models which can foster “Value in Healthcare”, there is increased interest in understanding how physicians will cope with different remuneration schemes. We conducted a survey to physicians practicing at Hospital Israelita Albert Einstein– a non-profit private Health System in Brazil – aimed at capturing their awareness over value-based healthcare (VBHC). METHODS: Our study uses data from a survey administered to doctors practicing at Einstein between September and November 2018. The questionnaire design was based on literature survey and subsequent pretest among 14 physicians.Descriptive statistics and adjusted multivariate logistic regression analyses were used to describe different physicians’ characteristics associated with their views on VBHC concepts. RESULTS: 1,000 physicians completed the survey (response rate: 12%). Although only 25% knew Porter´s value equation, 67% defined value in health correctly as the outcomes that matter to patients in relation to the costs of offering such outcomes. 79% identified the increase in healthcare costs as the reason for the discussions over new financing models. Measurement and dissemination of outcomes and greater participation of physicians in organizational decision-making were regarded by 93% and 90%, respectively, as the most important measures to improve healthcare delivery. Only 27% of physicians ratedtheir interest in VBHC as high or very high. In the multivariate analysis, self-rated interest in VBHC was associated with holding a management position, scoring high in the hospital’s physician segmentation program, being familiar with the value equation, and attributing high importance to developing new VBHC financing models for health system transformation. CONCLUSIONS: Physician awareness over key VBHC concepts is still low yet they identify measuring outcomes and greater physician involvement in organizational decision making highly important. Promoting more opportunities for involving physicians in the discussion over VBHC is key for a successful transformation of healthcare systems.