Stefan Larsson from BCG discusses the shift from volume to value.
Managing health is key for sustainable healthcare provision in an aging world with a growing demand for medical care. In the video, Stefan Larsson from BCG discusses the shift from volume to value. Additionally, a white paper illustrates how providers can succeed in value-based care settings.
Download the white paper here.
Managing Health – Key drivers and approaches for healthcare providers:
- Why do we need to talk about managing health?
Global trends, such as demographic change, increasing chronic diseases, and rising costs of modern diagnostics and treatments pose a threat to the long-term fundability of many health services. Depending on the system, rising healthcare expenditure places a burden on taxpayers, employers, private insurers, and / or self-pay patients.Illness not only creates diagnosis and treatment costs, but also leads to a loss of manpower, higher unemployment, and lower productivity. Countries must find a more systematic way of managing the demand for and the use of health services along the treatment chain and, above all, across all stages. The idea is to avoid both overuse and underuse.
- How can managing health cut costs and improve outcomes?
Payers and policymakers worldwide are starting to focus on ways of cutting costs in the healthcare sector. At the same time, the outcomes of the services are subject to increasing scrutiny. Value, defined as patient outcome divided by cost, rather than volume, is becoming the key performance indicator.Systematic, holistic health management includes measures for prevention and early detection, and for case and disease management. Today’s separation of care into different and independently working sectors, institutions, and departments needs to be replaced by a holistic view of the health of people or entire populations. This could not only cut costs, but also improve outcomes.
- How can providers succeed in value-based settings?
Healthcare providers and other industry players should recognize the benefits of working together in collaborative partnerships and affiliations to improve outcomes and deliver value-based health services. Preventive care, population health management, and disease management programs require support and integration beyond organizational borders.The future will be about managing health instead of merely handling it. Examples of good practice – such as collaborations, integrated care, patient education, retail clinics, and telemedicine –have great potential for improving the way health is managed.