Defining The Value Of Added Services

The change to value based purchasing has bought many challenges to the healthcare industry. With the change to value-based purchasing for payments, it has changed how healthcare organization receive payment and delivery care. The advantage of have value based purchasing is that it improves the quality of care while reducing cost in an effort of aligning patient’s with the right provider and treatment plan (Minemyer, Jun 29, 2016). However, there are many disadvantages, such as it increases the patient volume as counteracting the reduction of procedure volume (Brown, B. & Crapo, 2016). Also it makes providers more responsible for care that is beyond the expected treatment of care needed (Minemyer, Jun 29, 2016). With quality measures tied

Healthcare is in a constant state of change with movements that impact rates, access and quality of care. Hospitals have become more competitive due to the rising cost of care delivery and the reduction in reimbursement from payers. This causes difficulty in delivering quality care to all patients, which is being measured by mandated patient perception surveys, Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS). HCAHPS scores are part of value

Reading and understanding the information that was given in our text book about transforming the healthcare system for improved quality, rely on enhancing the value on healthcare. Their ideas is to improve healthcare in both financial and clinical aspect that could adjust the quality of healthcare. Meanwhile, if hospitals, doctors, and medical team. improve the value base care, it can or may provide better care, better health and lower cost. According to the Aetna the solution is to provide and deliver better health and more

The reasoning to Intermountain Health Care’s approach to the management of health services can be related back to a ‘crazy’ idea James was introduced to in a Lecture he attended conducted by Dr. W. Edwards Deming. This idea argues that higher quality could lead to lower cost. As we identified previously, IHCs business goals relate to the optimization of processes and services in order to minimize the quality of waste in terms of cost. This sort of business model will produce a high quality business, reflecting optimisation of processes and resources which will aid positive services to patients - whilst maintaining the financial stability of the business in the most effective way possible.

Over the course of our countries history, the delivery of our health care system has tried to meet the needs of our growing and changing population. However, we somehow seem to fall short in delivering our goals of providing quality, affordable and accessible healthcare to our citizens. The history of our delivery system will show we continuously changed the delivery of our system however never mange to control cost. If we can come up with efficient ways to cut cost, the delivery of quality care will follow.

One major trend in the healthcare environment is the shift from volume based reimbursement towards value based reimbursement. Many provider practices remain on a volume based or fee for service reimbursement plan. This system tends to reward high quantity of services with less regard for the quality or performance of the service. However, with a renewed focus on value, reimbursement plans

Triple Aim, as defined by the Institute for Healthcare Improvement, consists of improving patient experience of care, improving health populations, and reducing per capita health care costs simultaneously (IHI, 2009). Triple Aim is not focused on patient satisfaction or on reducing the growth of healthcare; rather it is based on the six Institute of Medicine (IOM) dimensions (safe, effective, patient-centered, timely, efficient, and equitable), reducing per capita healthcare costs, and improving health populations (Relman, 2001). Key to the Triple Aim model is understanding each element works in tandem with each other and sacrificing population health at the expense of reducing per capita expense, for example, does not comply with the Triple Aim

Definitions of the quality of medical care are no longer left to clinicians who decide for themselves what technical performance constitutes “good care.” What are the other dimensions of quality care and why are they important? What has changed since the days when “doctor knows best?”

Besides, the financial incentives for hospitals and physicians that belong to ACOs, Jaffery & Golden 2013, asked and then answered the question “why would providers join this program? One reason is to prepare for the future”. Fee-for-service reimbursement, which has been how hospitals get paid for their services rely solely on the volume of patient seen without taking into consideration the quality of care provided. Payers today, such as government, commercial insurers, employers, and individual consumers are now requesting on value -based-payment, which consist of delivering the highest level of care at a lower cost. The volume based system even though the traditional way of how payments are made is not a viable long-term option (Jaffery and Golden, 2013, p.98).

The major reasons why adding value to patient services at Paradise Hospital, Inc. is important, is because of the various challenges, changes and competition that the health care system faces. These challenges mainly stem from the Affordable Care Act. Under the ACA hospital that perform well or could receive some sort of financial incentive. These incentives are based on both clinical outcomes and patient satisfaction data. The ACA can also penalize hospitals that perform poorly.

In recent years, emphasis has been placed on improving the quality of health care services and the overall patient experience. Innovative measures are needed to meet these expectations, while also containing the rising costs of health care. The government has enacted new laws in attempts to provide incentives that base Medicare payments in part on quality. In fact, the Patient Protection and Affordable Care Act of 2010, requires the implementation of value-based purchasing (VBP), which bases Medicare reimbursement rates on the quality of care (Kennedy, Wetzel & Wright, 2013). Hospitals may experience a decrease in revenue initially, however, it is theorized that the increase of transparency and accountability will serve as an incentive for improvements in the overall quality of care provided in the United States.

Hospitals and health systems in the U.S. are experiencing a remarkable transformation in their business models directed from numerous influences that are projected to ultimately turn the industry around. Pressures include providers troubled with the quantity of services they are responsible for, to providers who concentrate on presenting high-cost services that give emphasis to sustaining healthy populations (Dunn & Becker, 2013).

Quality is one of the most essential elements of healthcare. As stated by the Agency of Health Research and Quality, “Everyday, millions of Americans receive high-quality health care that helps to maintain or restore their health and ability to function” (Agency of Health Research and Quality, 2014). Improvements have become vital to the success of health care organizations and in the Healthcare Quality Book, it is explained that quality in the U.S. healthcare system is not at the standard that it should be (Ransom, Joshi, Nash & Ransom, 2008). Although this has been a reoccurring issue, attempts to fix the insufficiency have been less successful than expected.

In contrast to tangible dominant offerings that can be felt, tasted, and seen, the healthcare services that are offered by the hospital can be categorized as intangible dominant. This intangible service is largely characterized by interactions with healthcare professionals, education on health conditions, and ultimately a better quality of health. Though the offering is primarily intangible, if the hospital is to be successful they should integrate a few tangible aspects to the offering. If the end goal of the service is to tend to the needs of the patient’s health through a primarily intangible offering, tangible elements such as medical equipment,

A country’s economy and well-being depends upon how strong its healthcare system is. A country would grow into a stronger nation if the people are mentally and physically stronger. Moreover, healthcare systems are usually complex and complicated systems and thus, they need a lot of attention. As Donley (2005) states, “[t]he changing patterns of health care delivery have increased complexity in all practice environments” (p. 314). By a complicated system, it means how different healthcare organizations together play a pivotal role in measuring success of a country’s healthcare system. These healthcare organizations further rely on various departments within the system which are in turn led by various leaders. Thus, it is evident how leaders are the key link in deciding the fate