Value-Based Healthcare Starts With Improving Outcomes
Healthcare is moving toward a patient-driven approach where value is the overarching goal. Around the world, providers, payers, physicians and private industry are working on innovative new ways to deliver ‘value-based healthcare’ that improves clinical outcomes while lowering overall costs.
At Medtronic, we define value-based healthcare as an effort to develop and deploy products, services and integrated solutions that improve patient outcomes per dollar spent in the healthcare system by improving the quality of care and/or reducing the associated expense. Most importantly, the value derived from the quality of care isn’t determined at a specific point in time that focuses on transactional value. Instead, value is measured holistically over a longer time horizon and in ways that are meaningful to the patient.
Everyone in the healthcare system has a role to play in this important shift. By working together, we can change healthcare for the better. Medtronic is actively working with leading healthcare thinkers and practitioners around the world to increase understanding of value-based approaches and advance this important dialogue. Recent efforts include:
MEASURING COSTS AND OUTCOMES
Measuring Outcomes: The Key to Value-Based Health Care
This Harvard Business Review webinar examines the ability to identify and use the right measurements to change our approach to treatment and costs, including risk sharing. Featuring Christina Akerman, MD, PHD, President of International Consortium for Health Outcomes Measurement (ICHOM), and Senior Institute Associate at the Institute for Strategy and Competitiveness at Harvard Business School. This webinar is provided by Harvard Business Review and sponsored by Medtronic.
Value-Based Health Care: Reconciling Mission and Margin
This Harvard Business Review webinar features Robert Kaplan, senior fellow and the Marvin Bower Professor of Leadership Development, Emeritus, Harvard Business School. This is the nexus of research Kaplan is doing on Value-based Health Care for his Harvard Executive Education program showing where investments can pay off more than cutting costs in health care. This webinar is provided by Harvard Business Review and sponsored by Medtronic.
May 2015 Value-Based Health Care Forum Summary
Medtronic and Harvard Business Review hosted a forum for healthcare leaders on the state of adoption in value-based healthcare. Michael Porter, Bishop William Lawrence University Professor at Harvard Business School, delivered the keynote address.
PARTNERING FOR VALUE
The King's Fund Integrated Care Summit 2015
Medtronic worked with the King's Fund, a U.K.-based nonprofit dedicated to improving health and healthcare in England, and sponsored a private roundtable luncheon with top policy experts and officials from the NHS during the annual Integrated Care Summit. The purpose of the luncheon was to discuss opportunities and challenges in creating and sustaining integrated care partnerships.