What Value-Based Care Means to Me
Thursday, October 17 2019
My daughter had been asking for a truck since she was 10 years old. Not a toy truck, a real one. When she turned 21, her car was failing. It was approaching 100,000 miles and the end of its life. So, it brought me great pleasure to buy the truck my little girl always dreamed of.
Recently, I reflected on that purchase experience. The most important factors I considered were those that would keep my daughter safe and happy. My research involved online expert opinions, crash test results, customer satisfaction reviews, and finally, comparing prices. I’d summarize the car buying process as a search for quality and value. In fact, these are the principles used when making most purchases — big ones, like a car or home, and everyday purchases, like new clothes and even groceries.
Historically, healthcare has escaped a value proposition for several reasons. First, we often hear: “you can’t put a price on good health.” Second, it’s challenging to precisely define the consumer — patients consume the healthcare, but they often don’t pay the bills.
Today, insurance costs are skyrocketing and high-deductible health plans have shifted more of the financial burden to patients. However, when the user of a service doesn’t fully pay for the service, it becomes tough to expect, negotiate, or demand value.
Legislative changes and regulatory initiatives have resulted in the Medicare program and our commercial payers reaching a consensus. Healthcare costs are out of control. Some may choose to argue that value-based medicine is government driven bureaucratic nonsense. Just remember how you purchase all of your other goods and services.
These challenges are why it is more important than ever that healthcare be value-based and quality-driven. And, Atlantic Coast Health Network, (ACHN), remains laser focused on high quality value-based care.
My daughter loves her truck—the consumer is happy. It feels like I paid a fair price—the value proposition is good. The vehicle was recognized as “Truck of the Year” two years running. Let’s see how the quality works out over the next few years. I’ll keep you posted.
And, stay connected with us to find out how to successfully navigate the changing healthcare landscape.