Toward a Clearer Understanding of Value-Based Healthcare: A Concept Analysis

Background: Value-based healthcare (VBHC) aims to improve the quality of healthcare delivery while reducing costs and also aims for outcomes that are of utmost importance from patients' perspectives. Despite a growing interest in VBHC, a significant knowledge gap persists within the existing literature in the absence of a clear conceptualization of VBHC itself. Aim: The aim of the present study was to develop a comprehensive understanding of the concept of VBHC in order to arrive at a definition based on the evidence in the existing literature. Method: A concept analysis approach was used to identify the concept's defining attributes, its antecedents, consequences, and its empirical referents. Results: The analysis of the concept yielded three defining attributes: monetary value of health service, quality of care, and patient-centered care. The analysis also identified several crucial antecedents for transitioning traditional fee-for-service models to those focused on value; it also identified key interrelated consequences: improved patient outcomes, cost reduction, and increased patient satisfaction. Conclusion: The concept analysis of VBHC provides a comprehensive framework for understanding its key components and challenges. By aligning healthcare delivery with the values and needs of patients, VBHC represents a promising avenue toward achieving high-quality, sustainable healthcare. The findings from this analysis call for a collaborative effort among healthcare leaders, researchers, and policymakers to further refine and implement VBHC models, ensuring healthcare systems are both patient-centered and cost-effective. These findings also have implications for nursing management.