In this paper, the light emitting efficiency, spectrum, and the lifetime of the phosphorescent devices, whose emission characteristics are strongly dominated not only by the energy transfer but also by the charge carrier trapping induced by the emissive dopant, are explained by differences in the energy levels of the host, dopant, and nearby transport layers. On the basis of our finding on device performance and photocurrent measurement data by time-of-flight (TOF), we suggest a detailed emission mechanism, along with a physical interpretation and practical design scheme for improving the efficiency and lifetime of devices. Moreover, the effects of the modification of charge (both hole and electrons) transporting layers which results in a drop of operating voltage and improved efficiency on the performance of electrophosphorescent device are investigated experimentally. Using the Ir-based phosphorescent emitter, vacuumevaporated, solution-processed, and composition of their hybrid structures are designed for better charge carrier balance and efficient exciton blocking behavior.