Heritage Biologics Blog

Changing Healthcare: Simple Math!

Posted by Christopher Kennedy on Aug 1, 2017 6:21:05 PM

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Per Michael Porter at Harvard Business School’s Institute for Strategy and Competitiveness,

Value = Health outcomes that matter to patients / Costs of delivering the outcomes

Per Heritage Biologics Rare Disease Outcomes Management (RDOM) approach,

Performance Accountability = Patient Experience Outcomes + Health Outcomes

In an era of increasing complexity and never-ending healthcare improvement discussions, maybe the solution to improving care can be found in simple equations. Formulas for better defining “value” in healthcare have existed for years, but adoption has been slow. Changing payment structures and creating different incentive structures will inevitably be involved in the development of a better model. Let’s not forget the primary focus we all have when we put on that intimidating patient gown. Our individual VOICE in our personal patient journey becomes the focus, but who is capturing that feedback?

Patients deserve healthcare performance accountability when they entrust providers in their individual care. Yes, just like any other significant purchase or investment, the consumer needs to be protected. Patient Experience feedback metrics provide a missing link to many healthcare journeys. Negative healthcare experiences are too common. From misdiagnosis to failed bedside manner, the list is both long and dynamic in between. The issue isn’t regarding the challenges or errors in healthcare, it’s the way they are handled…or mishandled. Sure, you could have had a good surgical procedure, but if there is a communication breakdown in your rehab, or a rude pharmacist, or an intimidating interaction with a nurse, then the entire care journey outcome can be disrupted. The point is clear here: If you aren’t in tune with the Patient Experience, then you won’t be able to take corrective action, and if there is no correction, a negative outcome is often the result.

Value and Performance Accountability go hand in hand in the new healthcare environment. Value can be driven and measured through performance metrics that in turn hold all of the stakeholders accountable. Simple formulas only work if providers commit to making them cornerstones of their organization’s culture. Measuring all aspects of care, including the Patient Experience, is the critical factor. Authenticity matters to patients and “Ranked #1” marketing gimmicks are increasingly being exposed. It’s time to take the simple math approach and focus on outcomes for all aspects of care. Patients are empowered when their feedback is meaningful in the accountability of their care. This isn’t unique to healthcare: Think quickly to your last Amazon purchase, wasn’t it nice to read all of those product reviews before buying? Wasn’t it even more gratifying to post a review on that expensive product that broke after three uses and the seller refused to accept the return?

Accountability is here to stay, and your investment in a formal Patient Experience program is needed. In fact, it’s long overdue.

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Topics: Pharmacy Patient Experience, Specialty Pharmacy, RXPX, Accountable Care, Patient Experience, Value-Based Specialty Pharmacy

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