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0:00
Hello and welcome.
My name is Dr.
Benedikt Langenberger.
I'm a postdoctoral researcher at
the Hasso Plattner Institute
in Potsdam, Germany.
Today, I will talk to you about
Value-Based Healthcare:
Shifting from Volume to Value.
0:19
I will start with where
we currently stand.
In healthcare, we have
established
reimbursement schemes;
for example, fee-for-service
systems that reward volume
but not necessarily outcomes.
However, as economists,
we do know incentives
really matter.
If you want to achieve
good outcomes,
you must set the
incentives right.
The result of the current
incentives in healthcare
is often an increase
in service volume,
but unfortunately, also
in healthcare costs.
This often leads to
a mismatch between
outcomes and costs,
where increased
health expenses are
not always associated
with improved outcomes.
As decision makers
in healthcare,
our goal should be
to improve outcomes
while containing the costs.
1:10
Nowadays, everybody
talks about value.
But how do we
actually define it?
The concept of value-based
healthcare was invented in 2006,
by Harvard Business School
Prof. Michael Porter,
and his colleague Elizabeth
Teisberg, in the publication:
Redefining Healthcare:
Creating Value-Based
Competition on Results.
Michael Porter says,
"Health outcomes achieved
per dollar spent,"
this is how we define value.
We can write it as
a simple equation,
mainly outcomes over costs.
But what do we mean
with outcomes?
We mean outcomes that actually
do matter to patients.
