Value Management Analytics

Globally, health care in developed countries is on an unsustainable path due to growing costs. US health care spending topped $2 trillion in 2011. The Centers for Medicare and Medicaid Services predicts that without major change, it will account for more than 20% of US GDP by 2021. Market forces are putting reimbursement rates under pressure requiring careful management of costs, quality and margins.

 

What is possible?

  • Is it possible that patient outcomes could be improved without extra cost?
  • Is it possible that costs could be reduced while maintaining quality of care?
  • Is it possible that costs could go down and outcomes improve at the same time?

The Metrixcare system helps us to have greater insight into the performance of our organisation for both cost and quality.
St Andrews Private Hospital, Australia

Healthcare Value Management

We believe that it's not cost or quality management it's their optimal relationship to each other that helps to create value using the best available methods1. We help organisations to improve value for their patients in the things that matter to them by delivering the best outcomes in the most efficient way possible. Value management analytics can empower an organisation to innovate through it's structure, improve processes and optimise costs without sacrificing outcomes.

"Value in any field must be defined around the customer, not the supplier."..."it is patient health results that matter, not the volume of services delivered. But results are achieved at some cost. Therefore, the proper objective is the value of health care delivery"..."Efficiency, then, is subsumed in the concept of value. So are other objectives like safety, which is one aspect of outcomes.”

Source: Porter ME. (2008) What is Value in Health Care? Harvard Business School.

Variation in clinical costs and outcomes isn't all bad.

Within all that variation there must be some providers dealing effectively with the same challenges. If only we could find those who are doing much better on both cost and quality and share learning with them.

Metrixcare utilises "a correspondence method that allows quality variables under control of providers to be incorporated in efficiency measures consistent with maximising net benefit"..."The maximisation of net benefit is an appropriate economic objective where societal value of quality is an important consideration in areas such as health, public services and environmental economics." 1

 

How we can help you

Metrixcare can provide you with a scalable cloud platform to continuously integrate both cost and quality performance across your organisation. Real-time benchmarks generated by the platform allow you to compare areas of performance with your peers then manage and track improvements. 

Collaborate with the best performers to share learning and innovate further.

Using the platform you can determine the most efficient use of inputs to achieve high value quality of care that maximises benefits for both the patient and your organisation.

This approach allows new ideas to be rapidly tested, refined and then spread - simple really.

Through our academic arrangements with several Universities we can help you to interpret the results and develop valuable insights from this new generation of healthcare analytics.

 

Why should you be interested?

If you already have the best value possible then you don't need to worry, at least for a while anyway.

In most cases the patients will benefit. They will get better outcomes and value for money.

Clinicians can be assured that the costs of quality are included and their outcomes are valued.

Payers may even come to pay less.

Insurers will be pleased.

Early adopters can get a market advantage.

 

What do you need to do?

Be prepared to innovate and learn to create better ways of doing things. You will need to use your existing data more and gather new data on performance. You will need to find ways of using the new insights for decision making and be committed to change and improvement.

Collaborative value management is now a reality. Some estimates suggest that 20% of healthcare costs could be removed while also improving outcomes and increasing value - all at the same time.

Contact us and lets start talking about a bold initiative and see where it can take us.

Contact Metrixcare