BCG — Boston Consulting Group
When outcome data is transparent, clinicians can identify best practices and help steer patients toward the clinical centers and specific clinical interventions that achieve the best results.
These efforts are at the heart of value-based health care: a model that improves health outcomes while maintaining or lowering overall costs.
Value-based health care delivers higher-quality patient outcomes at the same or lower total cost for a given condition.
Improved value in health care delivery relies on the following:
- The detailed analysis of existing high-quality outcomes data
- The identification of current best practices
- The widespread dissemination of those practices to reduce unwanted variations in clinical practice and improve health outcomes
Value-based health care is gaining momentum as the proliferation of new systems and capabilities in health care informatics makes it possible to collect outcome data and share the information broadly with clinicians and the public.
These are some of the results:
- Patients know with greater certainty which doctors and hospitals deliver better care at the same or lower cost, as well as which drugs, procedures, and devices would work best for them.
- Payers reimburse based on outcomes and push patients toward care delivery with better outcomes.
- Providers compete based on achieved medical outcomes, thereby attracting more patients, referrals, and payer support.
- Suppliers take a more holistic approach, strategically selecting where to play and what to offer to improve outcomes.
BCG’s Center for Health Care Value features a collaborative network of experienced professionals, including more than 200 consultants who have direct experience in value-based health care.
Beyond client work on the topic, BCG is supporting the global sharing of best practices through its cofounding of ICHOM, the International Consortium for Health Outcomes Measurement.
Jennifer Clawson, is a core member of Boston Consulting Group’s Health Care practice and the global coordinator for the firm’s value-based health care program, working with clients across all sectors of the industry.
Originally published at https://www.bcg.com.