Cost/Quality Optimisation

Healthcare costs continue to grow each year and are generally considered unsustainable. Healthcare quality and safety have many variables that can be difficult to measure. It can be a challenge to know what investment and effort is appropriate to optimise both cost and quality.

Current estimates suggest that health systems may be operating at an inefficiency of least 10% and potentially as high as 50%. Do you know where the sweet spot is in your services where there is the optimal balance between cost and quality?

Solution

Metrixcare has developed a solution using the best available method1 to make the relationship between quality and your service cost visible. This can be done for any service where the costs are known and quality indicators can be measured. Much of the data already exists in your systems and can be easily integrated into the Metrixcare solution. To build a complete picture of performance we also provide tools to allow additional data to be created and captured.

You can then benchmark your quality and costs against your peers or provide internal perspectives across multi-facility hospital groups. Using our academic advisory services you can then receive interpretation and guidance on how to reach the sweet spot of optimal cost and quality.

Features

  • Integrate with existing sources of data (patient, admission, costs & quality)
  • Risk adjust patient outcome indicators to allow for relevant comparisons
  • Visually see the relationship between cost and quality where you sit within the competitive landscape
  • Provides a management framework for achieving optimised levels of performance

Benefits

Most services will be able to make significant improvements to quality while also reducing costs and track the impact of improvements. This results in increased efficiency and competitiveness using data-driven management tools for quality and cost improvement.

Clinical engagement and buy-in is more likely as the techniques help create a shared conversation about value between the clinical and administrative stakeholders in an organisation.

"Allows hospitals to be organised such that clinicians and administrators can have a dialogue in relation to the common goal of net benefit maximising quality of care".1 

Achieving better outcomes for less cost will help to keep insurance premiums lower and contribute to improved profitability.