Value

Value in healthcare is the health outcome created per unit of money spent (Porter and Teisberg 2006), therefore maximising value involves achieving the best outcomes at the lowest cost. The measurement of outcomes, along with improving data on costs could, for the first time, allow the routine measurement and comparison of value within healthcare. 

 

The “Value Agenda”, outlined by Porter and Lee (Porter and Lee 2013) involves six interconnected components that increase value in healthcare delivery:

 

1. Organise into integrated practice units

2. Measure outcomes and costs for every patient

3. Move to bundled payments for care cycles

4. Integrate care delivery across separate facilities

5. Expand excellent services across geography

 

The first five are supported by the final component:

 

6. Build an enabling information technology platform

 

Learning Healthcare Systems can support each of these components. 1 and 5 represent the new delivery models discussed in the previous section. Outcomes measurement has been discussed in the building blocks section.

 

Predictive models and decision support systems could enable clinicians and managers to make decisions that improve value, helping to standardising approaches within and across separate facilities.

 

More generally, the Comparative Effectiveness Research and positive deviance use cases have the potential to enable rapid learning and dissemination regarding new interventions and delivery mechanisms that improve value.