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The dilemma of managing value
1School of Public Health, University of Washington, Seattle, USA.
Frontiers of Health Services Management
|December 4, 1995
Summary
Managing healthcare value is crucial for controlling costs. Providers must adopt new strategies focusing on care appropriateness, quality, and cost-effectiveness for long-term success.
Area of Science:
- Health Services Research
- Healthcare Management
- Health Economics
Background:
- Defining and managing "value" in healthcare is complex.
- Healthcare faces increasing demand with finite resources.
- Current cost-containment strategies may be insufficient.
Purpose of the Study:
- To explore the critical role of value in healthcare services.
- To propose that managing value can address healthcare cost containment.
- To outline the necessity for provider transformation in value management.
Main Methods:
- Conceptual analysis of healthcare value.
- Examination of the relationship between value, cost, and quality.
- Hypothetical framework for value management in healthcare.
Main Results:
- Value in healthcare is a function of care appropriateness, quality, and cost.
- Proper value management is hypothesized to be key to controlling healthcare costs.
- Provider adoption of new strategies is essential for successful value management.
Conclusions:
- Long-term provider success hinges on more than cost-cutting.
- Transforming organizational and clinical practices is vital for managing healthcare value.
- The imperative for value management will grow as resource constraints intensify.
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