Healthcare with Purpose: Understanding Value-Based Care

The Provider's Report

In this episode of The Provider’s Report, we dive into the core concepts of value-based healthcare, starting with definitions and a brief history, including Michael Porter’s influential work. We explore how to quantify value in practice using the formula (value = quality/cost) and provide real-world examples, like hip replacements. We also discuss current challenges, including low provider satisfaction, suboptimal patient outcomes, and high healthcare costs. Discover how value-based care can address these issues by boosting provider satisfaction, improving patient outcomes, and reducing costs, all while achieving the Quadruple Aim. Tune in as we explain how this approach is a win-win-win for providers, patients, and healthcare organizations.