Creating a strategy to reduce healthcare cost and increase health

Implementing value-based healthcare is a proven methodology to create as much value as possible, with the minimization of cost. We believe that the first step for implementing value-based healthcare is educating your stakeholders on the topic.

Value-based healthcare is undoubtedly one of the most important topics in healthcare transformation. This new approach to organize care is widely recognized as critical to improving health worldwide. Value is the outcome that matters to patients, and the cost is the investment to achieve those outcomes. It’s a methodology to create as much health (value) as possible with minimum cost.

Keeping it simple: Value-based healthcare is all about health care efficiency:

  • Reduce Cost
  • Maximize Health

value-based-health-care-education

“Value in health care is determined in addressing the patient’s particular medical condition over the full cycle of care, from monitoring and prevention to treatment to ongoing disease management. ”

Michael E. Porter

Requirements to implement value based healthcare strategy

Adapted from Prof. Michael E. Porter’s model, here is an actionable list of the key elements required:

  1. Care delivery should be organized around a patient’s medical conditions. 
  2. Outcome and cost measurement for each patient. If we don’t measure the cost and outcome, we can’t truly measure our efficiency either.
  3. Reimbursement models aligned with value. When we are measuring outcomes, we may reward based on those positive outcomes. Motivate all stakeholders towards care efficiency 
  4. Integrate your systems. Organizing efficiently the correct provider, treatment and settings are the keys for regional care delivery.
  5. Care Geographically. Organize National health centers to provide care for complex patients.
  6. Information Technology. You need a sophisticated information system designed to support all the essential functions and elements of the value-based healthcare

Sounds all very good, but how to get all the stakeholders on board?

Getting started

The first step is education. You need to educate to get people on board. The end goal is to create a strategy to reduce healthcare costs and increase health by implementing value-based healthcare, but first, everyone needs to understand what value-based health care is.

This is where Reaktor Education and our healthcare courses come into the picture. Rethinking Health: The fundamentals of Value-Based Healthcare is an open and free online course created by Reaktor and Gesund Partners in close collaboration with the University of Helsinki.

This is a groundbreaking entry-level course in value-based health care. Feel free to check the course at Rethinking Health.

The course itself is an entry-level course on the topic of value-based healthcare, allowing you to add value through insights to your customers and other stakeholders, and create a common language around the topic. The course has been designed for students, physicians, nurses, policymakers, hospital directors, municipalities, pharmaceutical companies, and anyone interested in understanding value-based healthcare. Participants get practical case examples and the information they need to form part of the conversation on shaping the future of healthcare.

They are already on board with us

This course has been launched in Finland in the context of Finnish healthcare with the backing of partners in the life sciences industry: Novartis, Janssen from Johnson & Johnson, and Mehiläinen. They wanted to join forces in the project to share insights with professionals navigating the everyday challenges of public healthcare and budgets. The results are promising: a significant percentage of healthcare professionals in the country have already signed up for the course. 

Call for partners

We have now taken up the challenge of bringing this online course to the European context and are looking for partners willing to back this mission. Would you be interested in becoming one of the patrons of this course, and help to create consensus and knowledge about the transformation in healthcare?

Head Of Growth

Viivi Pitkanen

viivi.pitkanen@reaktor.fi

What will participants learn?

  • The different definitions of value-based care, from both a
provider and a societal perspective
  • Why value-based healthcare is relevant and needed for
 today’s healthcare challenges – and for those of tomorrow
  • How value-based healthcare is being used in various
 countries around the world, with real-life examples
  • The future of value-based healthcare and how it might
 be developed