What Defines Value in Healthcare?
Geoffrey Glaser
Today, we read and hear that hospitals are losing hundreds of millions of dollars, in some cases billions. Is the sky falling? Or is this the opportunity to address some fundamental problems and make necessary changes?
It is my opinion that this is the great opportunity for organizations to look in the mirror, and open the medicine cabinet to find a cure. This is the time to re-set, re-configure, re-define what value is and how we realize it. All the different stakeholders in the healthcare continuum have this time to set the course for the future and re-think how institutions can bring value to both Patients and Caregivers. New partnerships and ownerships can address the following problems:
- Patient Experience/Journey
- Delivery System Transformation
- Data and Analytics
- Interoperability/Consumer Data Access
- Holistic Individual Health
- Cost, Transparency and Quality
Organizations cannot and should not look at these challenges and try to adopt old-school ways to fix them, but instead embrace new and innovative ways to redesign how systems are configured to put the Patient at the center of the solution, not the organization.
These challenging economic times are opportunities for new partnerships and business models between vendor and organization to deliver a cloud-based infrastructure that is agile and flexible — one that is positioned for immediate needs and long-term planning, innovation and sustainability.
Value is now defined by how care is delivered, reimbursed, and collaborated:
- In the home
- How risk is shared
- Through technology that enables caregivers to deliver the best possible outcome
- Through balanced and equitable reimbursement.
The best and appropriate focus on value will lead to a Healthy Hospital that is safe, sustainable, and accessible to all, and ultimately the foundation for The Hospital of the Future.
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