Introduction
When discussing healthcare, the primary focus has traditionally been on the cost of providing treatment. However, this perspective is gradually shifting as many countries with developed economies approach the limits of their healthcare budgets. Meanwhile, demand for healthcare services continues to rise due to the introduction of new treatments and the aging populations.
With over a decade of experience in digital health, we have gained valuable insights into the intricate barriers and complexities of healthcare economics. It has become evident that the traditional model, where patients pay for each treatment they receive, has its limitations. This volume-driven model often leads to unnecessary procedures, fragmented care, and escalating expenses.
Amidst these challenges, a new paradigm has emerged – Value-Based Healthcare (VBHC). In the 1990s, early efforts towards value-based care were already underway in the healthcare industry but until 2006, Michael Porter and Elizabeth Olmsted Teisberg coined the term value-based healthcare in their book, "Redefining Health Care: Creating Value-Based Competition on Results”. The VBHC approach prioritizes high-value care by measuring health outcomes against costs, shifting focus from volume to quality. This fosters a patient-centric and cost-effective healthcare system. Unlike its predecessor, VBHC prioritizes the delivery of high-quality care while simultaneously managing costs. Central to this approach is the emphasis on patient outcomes, rather than mere volume of services rendered. By reframing value as the intersection of outcomes and costs, VBHC charts a promising course for the future of healthcare delivery.
In this comprehensive book, we will explore the fundamental concepts of VBHC, its benefits, and the various models and strategies for its implementation. We will also delve into the role of technology and innovation in enabling VBHC, highlighting the importance of data analytics, telehealth, and emerging technologies.
Through insightful case studies and practical insights, we aim to provide healthcare stakeholders with a deeper understanding of VBHC and equip them with the knowledge and tools necessary to embrace this transformative approach. Ultimately, our goal is to inspire collaboration and drive positive change towards a more sustainable and value-driven healthcare system.
Below are the 4 main chapters of the ebook
Chapter 1: The Need for Change
Chapter 2: Value-Based Healthcare: A New Approach
Chapter 3: Implementing Value-Based Healthcare
Chapter 4: Technology and Innovation in Value-Based Healthcare
