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What finance needs to know about using technology to improve value.

Sanjaya Kumar¹

¹Quantros, Inc, Milpitas, CA, USA. skumar@quantros.com

Healthcare Financial Management : Journal of the Healthcare Financial Management Association

|March 1, 2011

Summary

Healthcare reform emphasizes value, defined by lower costs and higher quality. New technologies aid organizations in assessing performance, driving value improvement. Senior finance leaders are key to this quality and financial monitoring.

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Area of Science:

Healthcare Management
Health Economics
Quality Improvement

Background:

Healthcare reform is shifting focus towards value-based care.
Value is increasingly defined by the dual metrics of reduced cost and improved quality.
Technological advancements offer new tools for performance evaluation.

Purpose of the Study:

To highlight the growing importance of value in the healthcare industry.
To emphasize the role of technology in performance evaluation.
To underscore the leadership role of finance executives in value-based initiatives.

Main Methods:

The abstract does not specify methods, but implies a focus on technological capabilities for performance assessment.
Discussion centers on the strategic integration of quality and financial metrics.

Main Results:

New, affordable technologies facilitate performance evaluation for quality and safety.
These technologies contribute to achieving improved healthcare value.
Financial leaders are positioned to guide organizations in this transition.

Conclusions:

Value, encompassing cost reduction and quality enhancement, is central to healthcare reform.
Technology enables better measurement of clinical quality and safety.
Senior finance leaders must spearhead the integration of financial and clinical performance monitoring for value-based healthcare.