Value Based Care System Performance Dashboard

Health care system all over the world is not very sound and effective both technically and economically (Korenda, Gerhardt and Shukla, 2015). This requires a reduction in the cost of health care, enhancement of patient experience and improvement in clinical quality /population health -generally known as “Triple Aim” is, therefore, recommended by most of the people and Value Based Care (VBC) has gaining momentum (Berwick, 2008).
For this purpose, a US Health Care System performance dashboard can be developed to determine the impact of VBC. It measures cost of healthcare, quality/health outcomes and patient experience. The cost dashboard found that performance is moving in the right direction – toward lower growth in per capita spending and utilization
while patient experience dashboard shows that current ratings are generally favourable, particularly for hospitals and physicians (Korenda, Gerhardt and Shukla, 2015). The population health dashboard depicts improvement in recent years with regard to preventive measures. Hospitals move to VBC to improve overall health care system. It reorganize health care, test new reimbursement models, integrate service delivery, coordinate care processes and implement quality improvement initiatives. Health organization, therefore, will be recognized and rewarded for reducing the cost of health care, improving quality of health and outcomes.
The organization employing VBC payment arrangements has to achieve success in all the 3 performance areas which includes measures in each area. The criteria – importance, repeatability, relevance and reliability are used to select measures. For every measure, the dashboard provides
• Snapshot of current performance
• Projection for aspirational performance
• Five year trend/forecast
Dashboard presents performance of various measures as well aspirational performance that may be achieved if VBC is effective which is based on
• Results from leading VBC demonstration program, many commercial and Medicare ACOs and commercial quality focussed contacts
• Leading practices seen in the market
• Projections ratified by many credible sources
How team of Executives in healthcare organizations can do their part
There is no right or wrong way to implement VBC.
But healthcare organization would decide how they can help to improve performance levels. Organization using VBC now may get early operational and marketplace advantage and compete more effectively in the future. Measures used in the dashboard would impact overall healthcare system performance. Executives, therefore, should fund for the next project (cost would be around $25k), which would be a more in-depth research with proof of concept and also do an experiment analysis or a project of a similar nature. It is a potential VBC investment and contains opportunities to improve own performance because there is need to refresh the dashboard annually and update data for all the measures. Moreover, relationships between various results are to be evaluated and analysed to find out whether organization can succeed in multiple performance categories. The next phase of analysis will help us to leverage forward and might produce some ground-breaking information which would position ourselves better and gain a competitive advantage. The executives should therefore, support and extend all the facilities to accommodate to the needs and requirements of the next phase of the project which will definitely be a prospectus experiment for the
company.
Executives in the organization should look into the following while moving toward the aspirational state
1.
Can we simultaneously improve in all the Triple Aim areas for example making quality improvement may need investment which results in increased per capita costs.
2. Which aspects of the Triple Aim will we go after? Opportunity for improvement is to be found out
3. Can our performance transcend practice patterns in our local market? Possibility of targeting entire population is to be known.
4. What has made some organizations effective? VBC should be followed fully to compete and operate well in the business as this performance dashboard would assist organization improve its aim and hit its VBC performance targets.
Conclusion
The VBC project initiative would be a promising experiment and when the successful methods are implemented it will give a first-mover advantage for our company. It would help our health care systems to cut down the cost and also by improving the quality it would leave a lasting impact on the customers, gaining brand loyalty to our
company.