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Value Management in Healthcare

$42.95

How to Establish a Value Management Office to Support Value-Based Outcomes in Healthcare.

Nathan Tierney 978-0367735661 October 6, 2017 English 378 pages

Authors

Meet the Author

Nathan Tierney

You will never know what you can accomplish if you don’t try.
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Value Management in Healthcare
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Description

Description

Nathan Tierney’s approach to storytelling in the realm of health care business is a rare and potent force. In today’s landscape, a transformation is imperative in the health care delivery system, treating it as a team effort in service to patients and ensuring accountability through measurement for improved outcomes. The key lies in quantifying resource costs throughout the entire care cycle. The framework of value-based health care, as elucidated by Tierney, offers a detailed playbook for organizations aspiring to reach these goals. Through meticulous detail and clarity, Tierney explores core concepts and essential metrics necessary to build, sustain, and scale a successful value-based health care organization. The playbook also offers a realistic vision for CEOs aiming to develop their own Value Management Office, making it a must-have resource for executives, clinicians, and patients.

Important Information

  • Our current healthcare system is broken, with OECD predicting an increase in healthcare costs from 6% to 14% of GDP by 2060.
  • The causes of this increase include a global aging population, growing affluence, a rise in chronic diseases, and better-informed patients, leading to increased demand for healthcare.
  • The book “Redefining Health Care: Creating Value-Based Competition on Results” by Michael Porter and Elizabeth Teisberg proposes a patient-centric approach to optimize value for patients.
  • Professor Porter and Professor Robert Kaplan have championed this approach since 2006, working with leading healthcare organizations to promote value-based concepts.
  • The book defines the practice of value-based health care as Value Management, exploring Professor Porter’s Value Equation and providing a step-by-step process for calculation.
  • The Value Realization Framework, based on Professor Kaplan’s Balanced Scorecard approach, translates organizational mission and strategy into performance measures for healthcare delivery.
  • The book also details the Harvard-endorsed time-driven activity-based costing (TDABC) methodology for defining healthcare delivery organization costs.
  • Emphasis is placed on establishing a Value Management Office to lead delivery transformation and govern operations.
  • The book is designed to be accessible for any organization seeking to understand the fundamentals and methodologies of Value Management, especially healthcare delivery organizations aiming to implement value-based healthcare.

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