We can’t walk into a conference hall, research a behavioral health topic, or have a meeting anywhere in the healthcare industry without running into the term: value.
Value-based payments, value models, pay for performance, value-based purchasing models, value cubes, curves and bends. Okay, yes – I made up the last three. But you get my point. Value in healthcare is so important that much of what we discuss centers around the topic.
What are we trying to do with “Value-Based Healthcare”? What does value actually mean? As we all know, value means many different things to many different people. When we are talking about providing healthcare services, there are many stakeholders in the value equation. Here is my top five list of what each stakeholder values:
Is the organization able to hire the best performers? Do they get reimbursed at a rate to pay for the infrastructure and benefits to meet their mission, vision, and values?
Are therapists and physicians provided the support, tools, time, and system coordination to give the best possible care? Do the requirements for reimbursement make this possible?
Are clients receiving the services required for the best positive outcome for the severity of their given diagnosis? Are they receiving a level of care, interaction and humanity we’d expect for our loved ones no matter the time or effort?
Do the families see improvement? Are there processes and tools to connect with the client’s support system and make them part of the team?
Where are the dollars going? What are they achieving? Do we have people leading meaningful, productive lives? What does it mean to take care of the neediest people in our society?
When you talk to organization leadership, remember there are many definitions of value in healthcare. Yes – I agree, PQRS, MIPS, BIPS, MU, NOMS and all other payment reporting acronyms are important, but they are just pieces of the puzzle when providing value in healthcare.
Here’s a quick video with more thoughts on providing and defining value in healthcare… all to answer the question: how do you define “value” in our market?
Ted Wright joins Streamline with over twenty years of healthcare management experience. He has led both clinical and sales teams, and is completely focused on producing tangible results for the health and human services market. Prior to joining Streamline, Ted worked in numerous leadership roles including National Sales Director and Regional Vice President for some of the largest software vendors in the health and human services market. Ted has over fifteen years of experience in software, as well as an additional six years of experience in direct care management where he managed logistical coordination of rehabilitation services for multi-independence level, thirty-bed facility. Ted holds a Bachelor of Science in Psychology along with a Masters in Health Administration.