The WHO definition of health is not fit for purpose, especially in the emerging era of value-based care. Developed 70 years ago, it contributed to a very useful broadening of the lens through which we consider
This definition explains the meaning of value-based healthcare, also known as value-based care, and how it incentivizes healthcare providers to deliver high-quality care to patients.
We have taken an expansive definition of value-based care in this article and included pay-for-quality, pay-for-performance, and similar models. Our experience suggests that private investment has focused on assets that take material financial risk on medical-cost management. This typically includes...
Learn how BCG's value-based health care consultants help develop cutting-edge strategies to improve patient outcomes while maintaining or lowering total costs.
The survey report suggests strategic alignment of incentives and a shared definition of value that will enable providers to feel more confident in adopting more complex models of care with varying levels of risk. Without better collaboration between payers and providers, value-based care will not suc...
The survey assessed the knowledge of physicians on core aspects of VBHC, namely, their understanding of the definition of value in healthcare, according to Porter14; the reasons driving the discussions for new financing models; and the importance they gave to core value-based strategies that are...
Why value-based care can bring stakeholders together The advantages of value-based care (VBC) have been widely recognized over the past decade and the principles of VBC are now readily accepted by most parties. The sticking point for VBC achieving scale is the question of “...
Value-based contracting definition Value-based contracting, also known as results-based contracting, is a type of payment model that ties the price of a drug to how it performs. This is in stark contrast to other healthcare payment models, where the price of drugs is determined by data colle...
Value-based care means keeping our patients healthy that often times require activities far outside of the traditional healthcare role. These opportunities are identified in the Community Health Needs Assessment (CHNA). Many of these gaps identified are for elements outside of traditional healthcare...
definition of Value will be broadened to include long-term outcome improvement, as opposed to just quality processes, in addition to health equity. Quality reporting under the Merit-Based Incentive Payment System (MIPS) will continue, but there will be changes in measures and performance ...