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In Bringing Value to Healthcare: Practical Steps for Getting to a Market-Based Model, Rita Numerof and Michael Abrams lay out the roadmap to a healthcare system that is accountable for delivering optimal patient outcomes at a sustainable cost. This is the handbook for payer, provider, pharmaceutical, and medical device executives seeking to preserve today‘s profitability while positioning their organizations for success in the very different markets of tomorrow. The book‘s guidance is illuminated by case studies and each chapter concludes with a self-assessment tool and key questions.
The U.S. health care system is in crisis. At stake are the quality of care for millions of Americans and the financial well-being of individuals and employers squeezed by skyrocketing premiums—not to mention the stability of state and federal government budgets. In Redefining Health Care, internationally renowned strategy expert Michael Porter and innovation expert Elizabeth Teisberg reveal the underlying—and largely overlooked—causes of the problem, and provide a powerful prescription for change. The authors argue that competition currently takes place at the wrong level—among health plans, networks, and hospitals—rather than where it matters most, in the diagnosis, treatment, and prevention of specific health conditions. Participants in the system accumulate bargaining power and shift costs in a zero-sum competition, rather than creating value for patients. Based on an exhaustive study of the U.S. health care system, Redefining Health Care lays out a breakthrough framework for redefining the way competition in health care delivery takes place—and unleashing stunning improvements in quality and efficiency. With specific recommendations for hospitals, doctors, health plans, employers, and policy makers, this book shows how to move health care toward positive-sum competition that delivers lasting benefits for all.
Our healthcare system is in serious trouble and it affects you, me, our families, and everyone else. Millions of individuals are suffering from poor quality care and unpayable medical debt. We have to do something now. If you work in the healthcare industry, this is a handbook to turn ideas into action and build a more impactful career. Otherwise, this book will open your eyes to the inner workings of the system.You can use this book to:?Understand key stakeholders and imperatives in high value care?Identify levers that can accelerate improvements in quality and cost management?Build a strong foundation in healthcare data and analytics techniques?Develop a holistic perspective and strategy for patient-centered care?Apply robust project management and leadership principlesMastering these concepts will supercharge your ability to challenge and improve the status quo. Together, we will transform the healthcare system from its core.
Healthcare transformation requires us to continually look at new and better ways to manage insights – both within and outside the organization today. Increasingly, the ability to glean and operationalize new insights efficiently as a byproduct of an organization’s day-to-day operations is becoming vital to hospitals and health systems ability to survive and prosper. One of the long-standing challenges in healthcare informatics has been the ability to deal with the sheer variety and volume of disparate healthcare data and the increasing need to derive veracity and value out of it. Demystifying Big Data and Machine Learning for Healthcare investigates how healthcare organizations can leverage this tapestry of big data to discover new business value, use cases, and knowledge as well as how big data can be woven into pre-existing business intelligence and analytics efforts. This book focuses on teaching you how to: Develop skills needed to identify and demolish big-data myths Become an expert in separating hype from reality Understand the V’s that matter in healthcare and why Harmonize the 4 C’s across little and big data Choose data fi delity over data quality Learn how to apply the NRF Framework Master applied machine learning for healthcare Conduct a guided tour of learning algorithms Recognize and be prepared for the future of artificial intelligence in healthcare via best practices, feedback loops, and contextually intelligent agents (CIAs) The variety of data in healthcare spans multiple business workflows, formats (structured, un-, and semi-structured), integration at point of care/need, and integration with existing knowledge. In order to deal with these realities, the authors propose new approaches to creating a knowledge-driven learning organization-based on new and existing strategies, methods and technologies. This book will address the long-standing challenges in healthcare informatics and provide pragmatic recommendations on how to deal with them.
Salespeople and commercial leaders face a significant challenge and big opportunity. Purchasing in healthcare is undergoing a fundamental shift. Buying decisions, once driven by individual clinicians, are increasingly being made by data-driven committees, cost-driven administrators, and sophisticated buyers. The hospital supply chain and purchasing organization is growing into a powerful force, and is deploying sourcing tactics to gain unprecedented discounts and bring clearer transparency to value. Selling in this new healthcare market in the same old way is a recipe for price erosion, declining margins, frustrated salespeople, and dissatisfied customers. Based on extensive experience and research, this is a practical guide that provides salespeople and commercial teams with the insights to approach economic buyers with renewed confidence. It provides proven strategies and tools to educate customers, sell your value, and defend your value against tough buyers. This book will prove to be an invaluable source of ideas, strategies and tools for healthcare sales professionals, marketing teams, and executives responsible for leading winning commercial organizations.
"Nathan Tierney’s powerful storytelling is rarely seen in today’s health care business environment. We must redesign the health care delivery system---a team sport in service of patients, hold it accountable with measurement to improve outcomes, and quantify the resource costs over the full cycle of care. Value-based health care is a framework through which these goals are achieved, and Tierney provides a detailed playbook to get your organization there. Outlined in incredible detail and clarity, he presents core concepts and dives into the key metrics needed to build, maintain, and scale a successful value-based health care organization. Nathan shares a realistic vision of what any CEO should expect when developing their own Value Management Office. Nothing is more important to me than improving the lives of those I love. My personal mission is to create systemic change with an impact on the global stage. This playbook needs to be on the desk of every executive, clinician, and patient today." -Mahek Shah, MD, Senior Researcher and Senior Project Leader, Harvard Business School Our current healthcare system’s broken. The Organization for Economic Co-Operation and Development (OECD) predicts health care costs could increase from 6% to 14% of GDP by 2060. The cause of this increase is due to (1) a global aging population, (2) growing affluence, (3) rise in chronic diseases, and (4) better-informed patients; all of which raises the demand for healthcare. In 2006, Michael Porter and Elizabeth Teisberg authored the book ‘Redefining Health Care: Creating Value-Based Competition on Results.’ In it, they present their analysis of the root causes plaguing the health care industry and make the case for why providers, suppliers, consumers, and employers should move towards a patient-centric approach that optimizes value for patients. According to Porter, "value for patients should be the overarching principle for our broken system." Since 2006, Professor Porter, accompanied by his esteemed Harvard colleague, Profesor Robert Kaplan, have worked tirelessly to promote this new approach and pilot it with leading healthcare delivery organizations like Cleveland Clinic, Mayo Clinic, MD Anderson, and U.S. Department of Veteran Affairs. Given the current state of global healthcare, there is urgency to achieve widespread adoption of this new approach. The intent of this book is to equip all healthcare delivery organizations with a guide for putting the value-based concept into practice. This book defines the practice of value-based health care as Value Management. The book explores Profesor Porter’s Value Equation (Value = Outcomes/ Cost), which is central to Value Management, and provides a step-by-step process for how to calculate the components of this equation. On the outcomes side, the book presents the Value Realization Framework, which translates organizational mission and strategy into a comprehensive set of performance measures and contextualizes the measures for healthcare delivery. The Value Realization Framework is based on Professor Kaplan's ground-breaking Balanced Scorecard approach, but specific to healthcare organizations. On the costs side, the book details the Harvard endorsed time-driven activity based costing (TDABC) methodology, which has proven to be a modern catalyst for defining HDO costs. Finally, this book covers the need and a plan to establish a Value Management Office to lead the delivery transformation and govern operations. This book is designed in a format where any organization can read it and acquire the fundamentals and methodologies of Value Management. It is intended for healthcare delivery organizations in need of learning the specifics of achieving the implementation of value-based healthcare.
This book will provide a market-based approach to addressing the 'ills' of the current healthcare system. To provide context, it will briefly highlight and put in perspective the historical events that led to the current challenges. Divided by major industry sectors, the authors provide a clear vision of a viable, market-based healthcare system that produces better health outcomes at lower costs and recommendations to realize that vision. Each chapter ends with an assessment tool and a checklist of key questions leadership needs to ask in order to move their organization forward. Authors include case studies to illustrate their points.