Value-based care: Turning healthcare theory into a dynamic and patient-focused reality

Standardized metrics, open data standards, new reimbursement models and greater stakeholder involvement identified as keys to wider adoption of value-based care.

Faced with multiple challenges, including the aging population, endemic chronic disease, rising patient demands, clinician burn-out and the soaring cost of care, healthcare systems worldwide are increasingly being stressed to their limits. As a result, patient outcomes often remain sub-optimal, not through want of trying but simply due to lack of effective resources. Yet the transition to value-based care, which is widely seen as the solution to many of today’s problems, has been slow to materialize. This positioning paper from Philips offers a perspective on why this is the case and proposes a set of measures to accelerate the implementation and scale up of value-based care.

Central to the position paper’s argument is the belief that all stakeholders, including industry and policy makers, need to work together and share the risks in order to build a successful and sustainable future for value-based healthcare – one that achieves the quadruple aim of better health outcomes, improved patient experiences, better staff satisfaction and lower cost of care. To illustrate what can been achieved, the paper highlights numerous examples of how to implement value-based care strategies.

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