Measured Outcomes: A Future View of Value-Based Healthcare
In this documentary, a co-author of Redefining Health Care and Harvard strategy professor, Michael E. Porter, PhD, shares the culmination of more than 20 years of work documenting what happens when organizations use the value-based care model. He makes the case that the healthcare industry should concentrate on quality as measured by patients, even suggesting that organizations who cannot deliver high-quality care in certain areas should redirect their resources toward care delivery where they can be the best in the world. Additionally, Marini-Klinik (a world leader in volume and quality of prostatectomies) shares how a surgeon in the group improved care quality using these patient-reported outcomes. Sahlgrenska University Hospital (Gothenburg, Sweden) and Boston Children’s Hospital add to the success stories that the value-based model is bringing to healthcare. The documentary also includes insightful commentary from Stefan Larsson, MD, PhD, Senior Partner and Managing Director at The Boston Consulting Group and Christina Akerman, CEO of the International Consortium for Health Outcomes Measurement.
“If today you have improved outcomes without escalating cost, you have succeeded.
If today, you have delivered equally good outcomes more efficiently, you have succeeded.
If today, you didn’t do one of those two things, you have failed.”
– Michael Porter, Co-author of Redefining Health Care and Harvard strategy professor
The Transformational Approach of Value-Based Delivery Models
Practitioners who entered medicine expecting to spend their days working to eliminate human suffering instead find themselves spending a disproportionate amount of time working through the bureaucratic issues of care delivery. Costs continue to increase, quality remains unstable, and health systems desperately seek solutions to overhaul healthcare. A value-based care delivery model, already successfully used by several healthcare organizations, promises to be part of the solution. It’s a transformational approach, requiring difficult short-term decisions in favor of long-term sustainability. And central to this approach is the measurement of patient-reported outcomes, in addition to the traditional process and clinical metrics. The value-based model incorporates what matters most to patients.