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Value-Based Care

[Name of Writer]

[Name of Institution]

Focus in medicine has recently shifted to value-based healthcare and I think it is reasonably clear why. This shift of attention underlines a switch from the traditional system of compensation based on the quantity of care towards the relatively modern approach of compensation based on quality of care provided. Value based care changes the current system with several stakeholders each having a separate goal of their own. It unites the system under a singular goal of increasing the value of healthcare provided to the patient. CITATION Mic10 \l 1033 (Porter, 2010) One of several viable ways of doing so can be a scientific measurement of value by calculating it as the number of healthcare milestones achieved for every dollar. Understanding the concept of reducing costs via value-based care can be tricky. Especially since the only cost reduction it decidedly brings is through increasing health-related outcomes without increasing the cost of services provided. This system gives hopes of success because of an integration of care that is preventative and proactive. By looking out for wellness instead of waiting for a medical aberration, value-based approach can create a scenario where effective care cuts down the cost of healthcare services needed. It is through a greater access to preventative or primary care that the system opens the door for less spending needed in complicated medical services later. CITATION JTe09 \l 1033 (J Teperi, 2009)

Therefore, my opinion on quality being linked to payment has changed into an affirmative one. When pushed to provide healthcare that efficiently produces results, the healthcare system can change its ways from broken to one that can stand with a sustainable future. This improvement in my stance on value-based care is owed to the faculty. I do, however, look forward to hearing more on how and where several elements of the value-based care system are already being integrated into clinical practice. Detailed discussions on nations and healthcare systems with success stories involving value-based care can also prove to be immensely helpful. I hope the discourse on the merits and demerits of value-based care continues.

References

BIBLIOGRAPHY J Teperi, M. E. (2009). The Finnish Health Care System: a Value-Based Perspective. Sitra Reports.

Porter, M. E. (2010). What Is Value in Health Care? The New England Journal of Medicine, 2477-2481.

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