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Value-based partnering in healthcare: a framework for analysis.

D W Young1, D Barrett, J W Kenagy

  • 1Healthcare Management Program, Boston University School of Management, Massachusetts, USA.

Journal of Healthcare Management / American College of Healthcare Executives
|March 30, 2001
PubMed
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Value-based partnering shifts healthcare from cost competition to relationship value. This model emphasizes collaboration among consumers, providers, health plans, and employers, focusing on overall value beyond just lower costs.

Area of Science:

  • Healthcare Management
  • Health Economics
  • Strategic Partnerships

Background:

  • Healthcare competition traditionally focuses on cost, overlooking intrinsic value.
  • Measuring benefits like quality of care and improved health status is challenging.
  • Existing systems define stakeholder relationships primarily through financial metrics.

Purpose of the Study:

  • Introduce a value-based partnering model for healthcare.
  • Shift focus from cost-based competition to value creation.
  • Explore opportunities for organizations demonstrating comprehensive value.

Main Methods:

  • Conceptual model development.
  • Analysis of stakeholder interdependencies.
  • Framework for demonstrating value beyond cost.

Related Experiment Videos

Main Results:

  • Value-based partnering redefines healthcare competition.
  • Opportunities arise for organizations that partner effectively.
  • Recognizes diverse stakeholder considerations beyond financial terms.

Conclusions:

  • Value-based partnering fosters strategic alliances among stakeholders.
  • Encourages information exchange between employers, health plans, providers, and consumers.
  • Highlights the potential for improved healthcare system performance through collaborative relationships.