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The EIU Global Assessment commissioned by Medtronic is an up-to-date look at healthcare in 25 countries around the world. Representatives from ICHOM, Medtronic, and EIU Healthcare explain the methodology and importance. Hear how the Assessment will help define strategies and track progress as we make the necessary shift away from healthcare systems based on volume to those based on value to the patient.
Healthcare systems are under intense clinical and economic challenges worldwide — causing many leaders to consider value-based healthcare (VBHC) approaches. While health systems in many countries are still in the early phases of VBHC implementation, the Global Assessment, developed by the Economist Intelligence Unit and commissioned by Medtronic, creates a set of global indicators that capture progress today and builds a roadmap for action as we move into the future. As the Global Assessment reveals, we’re still in the early stages of the journey to value-based care — but this is one step we’re taking to help accelerate VBHC worldwide.
An Economist Intelligence Unit (EIU) editor and an independent panel of experts discussed the findings from the value-based healthcare (VBHC) global assessment report. The discussion highlighted the significant challenges to implementing VBHC across the globe and referenced research based on findings and methodology, policy papers, and case studies.
Rising costs, aging populations, and the emergence of disruptive technologies are just a few of the challenges facing global healthcare systems. How will the world deliver high quality care while containing costs? Value-based healthcare (VBHC) is gaining traction as the best path forward. However, despite growing acceptance, implementation is proving more difficult in some countries. At this pivotal time of change, the EIU looked across six continents to gauge the readiness of key healthcare systems. The result is a comparison of 25 countries and the state of play for VBHC progress.
The rationale for a VBHC model is at an all-time high, but it requires a paradigm shift that involves a re-think of policies and procedures the healthcare industry has followed for decades. How will countries implement systems that prize patient outcomes? How will they overcome forces of inertia such as fragmented systems, limited infrastructures, and antiquated payment models? Here is an examination of the challenges and opportunities, complete with “frontier” countries that are making impressive strides and a look at why some countries have yet to start this journey.
As people are living longer, the instances of chronic diseases rise, as do healthcare costs. In order to manage this financial strain, policymakers must consider outcomes in order to provide value to patients. But shifting to this value-based model is challenging — especially for lower-income countries. By assessing the existence of core components of VBHC across countries, this study provides new insights into the state of the enabling environment for value-based care around the world.
Around the globe, the VBHC model is being introduced incrementally. But in many places, political will is strong and policymakers are moving in the right direction. These country snapshots will show how the enabling environment and policies differ across 25 countries as well as the varying priorities among those countries.
In assessing the varying degrees of VBHC readiness and adoption, it becomes clear there are pilot projects, policy initiatives and experiments worth noting. Whether it's the Regional National Health Service (NHS) health boards implementing pilot projects on outcome collection in Wales to policies being developed by the Centers for Medicare and Medicaid Services (CMS) to replicate and spread good practices and shift the trajectory of US healthcare away from fee for service models and towards value-based care, these case studies shed light on some of the most innovative thinking from around the world.