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Book Cover
E-book
Author Tierney, Nathan William

Title Value Management in Healthcare : How to Establish a Value Management Office to Support Value-Based Outcomes in Healthcare
Published Milton : Taylor and Francis, 2017

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Description 1 online resource (379 pages)
Series HIMSS Book Series
HIMSS book series.
Contents Half Title -- Endorsements -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Foreword -- Putting Healthcare Value into Perspective: A Fatherâ#x80;#x99;â#x80;#x8A;s Point of View -- Acknowledgments -- List of Figures -- List of Tables -- 1: Executive Summary -- Introduction -- Problems Facing Healthcare Delivery Organizations -- Recommendations for Healthcare Delivery Organizations -- Conclusion -- Book Purpose -- Book Structure -- References -- 2: Healthcare Landscape -- Learning Objectives -- Global Trends -- Value-Based Trends
Use Case: Physical Therapy Consultation ManagementExample of Value as a Program for Consultations Management -- Summary of Key Points to Remember -- References -- 4: Value Management Office -- Learning Objectives -- The Concept -- Mission and Vision -- Role of the Value Management Office -- Governance and Staffing of the Value Management Office -- Benefits of the Value Management Office -- Value Management Office Deliverables -- Management Dashboards -- Performance Scorecards -- Summary of Key Points to Remember -- References
5: Value Realization FrameworkLearning Objectives -- Need for a Framework -- Value Equation for Healthcare -- Application of the Value Realization Framework and Value Equation -- Application of the Framework to Consultations Management -- Application of the Value Equation to Consultation Management -- Approach to Quantifying the Value -- Summary of Key Points to Remember -- References -- 6: Steps in the Value Realization Framework -- Learning Objectives -- Process Overview -- Step 1: Critical Success Factors -- Step 2: Key Results Indicators
Combining Lean Six Sigma and Systems Thinking ProcessesStep 3: Key Performance Indicators -- A3 Thinking with Consultation Management for Indicators Identification -- Step 4: Value Measurement -- Summary of Key Points to Remember -- References -- 7: Outcome Metrics -- Learning Objectives -- Clinical Outcomes -- Outcome Measures in Perspective -- Defining Outcome Dimensions and Measures -- Measuring Clinical Outcomes -- Financial Outcomes -- Measuring Financial Outcomes -- Cost of Care -- Cost of Care in the Patient Life Cycle
""Time-â#x80;#x8A;Driven Activity-Based Costing""
Summary "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, Mr. Porter, accompanied by his esteemed Harvard colleague, 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 Mr. 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. 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."--Provided by publisher
Bibliography ""References""""3: How to Measure Value""; ""Learning Objectives""; ""Key Terms to Remember""; ""Value Myths""; ""A Healthcare Value-Based Balanced Scorecard""; ""Value Calculation Trends""; ""Value Equation""; ""Value as a Process""; ""Value as a Business (Healthcare Organization) ""; ""Value as a Program""; ""Program Investment Appraisal""; ""Discounted Cash Flow (DCF) ""; ""Return on Investment (ROI) ""; ""Net Present Value (NPV) ""; ""Internal Rate of Return (IRR) ""; ""Payback Period (PP) ""; ""Total Cost of Ownership (TCO) ""; ""Program Value Linkage (PVL) ""
Notes Print version record
Subject Medical care -- Evaluation.
Medical care -- Cost effectiveness
Medical care -- Quality control.
Outcome assessment
Health services administration.
Medical Audit
Quality Assurance, Health Care
Health services administration
Medical care -- Cost effectiveness
Medical care -- Evaluation
Medical care -- Quality control
Form Electronic book
ISBN 9781351591485
1351591487