In the landscape of healthcare, the concept of value has evolved beyond mere cost considerations to encompass the delivery of high-quality care and improved patient outcomes. This paradigm shift has given rise to value-based healthcare (VBHC) systems, which prioritize the effectiveness, efficiency, and equity of healthcare services. Let's explore how VBHC is transforming the global healthcare landscape by placing patient outcomes at the forefront of decision-making, without solely focusing on market dynamics.
Redefining Success in Healthcare:
Traditionally, success in healthcare has been measured by financial metrics such as revenue and cost containment. However, VBHC challenges this narrow focus by emphasizing patient-centric outcomes as the true measure of success. Whether it's reducing mortality rates, improving quality of life, or enhancing patient satisfaction, VBHC shifts the focus towards achieving meaningful and measurable improvements in patient health and well-being.
Data-Driven Decision Making:
Central to the implementation of Global Value-Based Healthcare is the use of data and evidence-based practices to inform decision-making at every level of the healthcare system. By leveraging comprehensive patient data, including clinical outcomes, patient-reported outcomes, and cost-effectiveness analyses, healthcare providers can identify areas for improvement, optimize care pathways, and tailor treatments to individual patient needs. This data-driven approach fosters continuous learning and improvement, driving better outcomes for patients over time.
Empowering Patients as Partners:
In VBHC systems, patients are not passive recipients of care but active participants in their own health journey. Empowering patients with information, shared decision-making tools, and support networks enables them to make informed choices about their care and engage more fully in managing their health. By placing greater emphasis on patient education, communication, and involvement, VBHC fosters a culture of collaboration and partnership between patients and healthcare providers, ultimately leading to better health outcomes and higher patient satisfaction.
Promoting Population Health and Equity:
One of the key tenets of VBHC is its focus on addressing disparities in healthcare access and outcomes across different populations. By prioritizing preventive care, early intervention, and targeted interventions for high-risk groups, VBHC aims to improve overall population health and reduce health inequalities. Moreover, VBHC emphasizes the importance of equitable access to healthcare services, regardless of socioeconomic status, geographic location, or other factors that may impact health outcomes.
Driving Innovation and Continuous Improvement:
VBHC encourages a culture of innovation and continuous improvement within healthcare organizations, fostering creativity and experimentation in the pursuit of better outcomes for patients. Whether through the adoption of new technologies, process improvements, or care delivery models, VBHC creates incentives for healthcare providers to innovate and iterate in ways that drive value and improve patient outcomes. This emphasis on innovation not only benefits patients but also contributes to the advancement of healthcare as a whole.
the shift towards value-based healthcare represents a fundamental transformation in how we define and deliver healthcare services globally. By prioritizing patient outcomes over cost considerations, VBHC systems hold the promise of delivering higher quality, more efficient, and more equitable care for all. As healthcare organizations continue to embrace the principles of VBHC and leverage data-driven approaches to inform decision-making, the potential for improving patient outcomes and transforming healthcare delivery on a global scale is immense.
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reportsThe Value Based Care Payment Global Market Report 2020-30 by The Business Research Company describes and explains the global value-based care payment market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Value Based Care Payment Global Market Report 2021 covers value based care payment marke t drivers, value based care payment market trends, value based care payment market segments, value based care payment market growth rate, value based care payment market major players, and value based care payment market size.View Complete Report: https://www.thebusinessresearchcompany.com/report/value-based-care-payment-global-market-report-2020-30-covid-19-growth-and-changeThe value based care payment market report provides an in-depth analysis of the impact of COVID-19 on the global value based care payment industry, along with revised market numbers due to the effects of the coronavirus and the expected value based care payment market growth numbers 2021-2030.Value Based Care Payment Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=3378=smpThe global value-based care payment market is expected to grow from $1.52 billion in 2020 to $2.27 billion in 2021 at a compound annual growth rate (CAGR) of 49.5%.
The market is expected to reach $4.02 billion in 2025 at a CAGR of 15%.The report covers the value-based care payment market segments-1) By Models: Accountable Care Organization (ACO), Bundled Payments, Patient-Centered Medical Home (PCMH), Pay for Performance (P4P).2) By Deployment: Cloud Based, On-Premise.3) By End User: Providers, Payer.About The Business Research Company: The Business Research Company is a market intelligence firm that excels in company, market, and consumer research.
Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
They focus on helping patients recover rapidly and avoid chronic diseases to achieve better health at lower costs.
Commonly used value-based health care models are pay for patient-centered medical home, bundled payments, accountable care organization, and performance.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=65891Key Drivers, Restrains, and Opportunities of Global Value-based Healthcare Services MarketValue-based healthcare services are developing rapidly, which is a major factor that is estimated to drive the global value-based healthcare services market during the forecast period.
This infection leads to multiple organ failure, pneumonia, severe and acute respiratory disorders and in severe cases, death.
COVID-19 has prompted the launch and modification of care delivery to more virtual models.
Providers are monitoring patients’ health status and behaviors via devices and wireless apps more often, instead of visiting the office.
Not only is virtual care more convenient and less expensive, but it also flags changes in behaviors or health status in real-time.
Duxlink Health, Florida based multi-specialty practice group with Duxlink Health Technology, the sister technology company, provides its unique integrated solution, Duxlink Tele-Hospital™.
The solution focuses on one goal – “High risk Population Health Management to reduce unnecessary hospital readmissions.” The main product, Inter-reality Care™ (both On-site and On-line Care) provides hospital level of care for high risk patients in the post-acute care continuum.The Upcoming Perfect StormDuxlink Health was formed at the inception of Medicare’s official reimbursement of Telemedicine in the US along with the shifting paradigm from fee-for-service to value-based care for cost reduction.
Based on National Quality Forum 2017 Report, preventable 30-day readmission costs the US $25-45B annually, 5-30% higher than regular admissions.
Recently in October 2018, Medicare just released a BPCI (Bundled Payment for Care Improvement)-Advanced program, extended the 30-day metrics to 90-day readmissions, which is much harder to achieve.
For example, the 30-day readmission rate for heart failure is average approximately 20%, the 90-day is over 50% in the US, but can be over 90% in some hospitals.The BPCI-Advanced program has not only elevated the clinical quality threshold, but also is posing a 20% of upside/incentives or a downside/penalties on the 1,300 hospitals nationwide in the US that already signed the contracts with CMS.
This may accelerate estimated 450 hospital closures in the next a few years projected by Morgan Stanley in August 2018.The Key ChallengeThe fundamental problem of hospital readmission is the silo of patient data and care from all the entities, outside of hospital, due to lack of data integration and focused high risk care delivery.
