Remove Activity Based Costing Remove Insurance Remove Management Remove Operations
article thumbnail

Health Care Providers Need a Value Management Office

Harvard Business Review

A “value management office” can greatly enhance an institution’s ability to improve outcomes and costs across the enterprise. It makes much more economic and operational sense to create and leverage a central cadre of professionals than to ask each clinical unit, on its own, to acquire such expertise.

article thumbnail

Do You Know What Your Company’s Data Is Worth?

Harvard Business Review

Failure to accurately quantify the enterprise value of data (EvD) may therefore woefully undervalue the importance of cyber-security investments, as well as the face values typically applied to cyber insurance policies. Definitions for what constitutes EvD, and methodologies to calculate its value, remain in their infancy.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Delivering Higher Value Care Means Spending More Time with Patients

Harvard Business Review

Unfortunately, the same problem often arises when physicians manage the care of patients with chronic conditions such as diabetes, heart failure, and kidney disease. Even including the extra cost of the vascular surgery, the costs of treating the two sets of patients before dialysis began were about the same.

Cost 13
article thumbnail

How to Design a Bundled Payment Around Value

Harvard Business Review

Another reason is these new contracts are negotiated at the payer-administrator level in a zero-sum cost-shifting process. Insurers strive to lower the prices they pay while the hospital’s contract administrators attempt to preserve top-line revenues. The Motives of the Pilot’s Members.

article thumbnail

Intelligent Redesign of Health Care

Harvard Business Review

As we move forward we need to be mindful of two principles that must be at the heart of any fundamental health care reform: “no margin, no mission” and “if you can’t measure it, you can’t manage it.” Specifically, the center wants estimates of: The costs of caring for groups of patients with similar conditions. Health Operations'

article thumbnail

Lessons from Mayo Clinic’s Redesign of Stroke Care

Harvard Business Review

At the Mayo Clinic Comprehensive Stroke Center Practice, we conducted a project to design and deliver care more customized to the needs of individual patients while reducing cost and resource constraints. Care for these patients could potentially be managed and monitored in the lower-cost NSPCU environment.

Mayo 8
article thumbnail

Getting Bundled Payments Right in Health Care

Harvard Business Review

Examples include the Bundled Payments for Care Improvement (BPCI) initiative for Medicare patients, arrangements between commercial insurers and providers, and increasingly, in direct negotiated contracts between large employers such as Boeing, Lowes, and Wal-Mart and leading providers for complex medical conditions.