Medicare Value and Quality Demonstration Act of 2002

Medicare Value and Quality Demonstration Act of 2002 - Directs the Secretary of Health and Human Services to establish demonstration projects under which the Secretary: (1) provides bonus payments to providers of inpatient hospital services and providers of physicians' services that deliver high-quality health care at low costs in accordance with a value and quality ranking methodology established by the Agency for Healthcare Research and Quality under this Act; and (2) funds a plan at each site to increase the number of such service providers that provide high-quality, low-cost health care to beneficiaries under the Medicare program under title XVIII of the Social Security Act.