Patient-centric outcomes at the foundation of care: insights for healthcare executives

An explanatory review article on value-based healthcare (VBHC).

This paper provides a thorough background to VBHC, explaining the benefits of VBHC, the leading economic models, and the implementation and preparation needed for VBHC.

The principal drivers and need for change towards VBHC is the unsustainable rising cost of healthcare. There is a lack of correlation between healthcare spend and patient outcomes, and there are inefficiencies in care delivery. VBHC aims to improve health, by moving towards personalised healthcare. However, implementation of VBHC remains difficult, due to five common challenges:

1. The shift from fee-for-service towards VBHC funding models is a potential financial risk
2. There is a need to define and create standardised outcome measures
3. There is a need for robust data and IT infrastructure
4. Accurate tracking of costs throughout the patient journey is needed
5. There is a need for policies and a legal framework which supports VBHC

The paper concludes with 4 key recommendations and next steps, to prepare for a VBHC future:

 

1. Start focusing on the outcomes that matter most to patients with a specific medical condition or in a specific segment
2. Standardise outcomes to know what to measure, with which survey and at which time points. Ensure the organisation is involved and educated in the transformation journey towards VBHC
3. Invest in interoperable IT systems to capture outcomes data. Benchmark results internally and externally and establish learning communities to share and learn
4. Ensure that incentives and reimbursement are set up based on the outcomes