article thumbnail

Health Care Providers Need a Value Management Office

Harvard Business Review

Many health care organizations today are striving to deliver better patient outcomes at lower cost and to be rewarded for accomplishing both. Most have begun this journey with pilot projects to obtain valid measures of outcomes and cost for one or two medical conditions. Leading Change in Health Care.

article thumbnail

How Hospitals Are Using Patient-Reported Outcomes to Improve Care

Harvard Business Review

Transforming Health Care. Dr. Niazi’s team has used Time-Driven Activity-Based Costing to prove that this program is cost effective, and is currently collecting data to assess its impact on patient outcomes. Insight Center. Sponsored by Medtronic. PRO tools can help stimulate those conversations.

Report 8
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Design a Bundled Payment Around Value

Harvard Business Review

The traditional fee-for-service reimbursement model is widely acknowledged to be a major driver of escalating health care costs. It also penalizes cost reduction since eliminating unnecessary procedures leads to lower reimbursements. Follow the Leading Health Care Innovation insight center on Twitter @HBRhealth.

article thumbnail

Getting Bundled Payments Right in Health Care

Harvard Business Review

Their experiences reveal three keys for successful bundling: excellent data on outcomes and costs, proactive management of the patient, and alignment between physicians and hospitals. Data on Outcomes and Costs. knee and hip osteoarthritis). Excellent data has helped create a patient-centered culture at both institutions.

article thumbnail

Measuring and Communicating Health Care Value with Charts

Harvard Business Review

Some leading proponents of health care reform have argued that the goal of any health care system should be to deliver the most value to patients : the outcomes achieved for treating a medical condition relative to the costs incurred over a complete care cycle.

article thumbnail

The Mayo Clinic Model for Running a Value-Improvement Program

Harvard Business Review

In the last six years, a Harvard Business School team has worked with dozens of health care organizations to help them understand the true costs of their treatments for many medical conditions. The clinic created a high-level steering committee to oversee all its costing and value-improvement projects.

Mayo 8