Question

Analyze the current economic shift from volume-based health care to value-based health care. What economic principles (macro and micro) are driving this shift? Evaluate implications of this volume to value shift. How has this shift affected how you work or how you or a family member has been treated for a medical condition

Answer 1

We are always driven by change and it is obvious.For long health care has been focusing on volume based care rather than on value based care.When they concentrated more on volume the quality of care began to decrease to the ground level.So now people are demanding for quality careand the the health care system is slowly heading to that direction and that is something positive.Volume based care is profit driven.When the hospitals cross high profit margins they consider it as a great sucess and it has no emphasis on improving quality.Whereas value based care is focused on quality care rather than in volume.The profit the providers get are used for providing quality care and reducing cost.

Value based payment model aims to reduce spending while improving quality and outcomes.Economic principles which drives this shift are unsustainable costs,federal government support for new payment approaches,new laws,regulations,more robust data,increased health care system sophistication and risk mitigation approaches are accelerating the pace of change

There are a lot of challenges when the transition from volume to value based care occurs.It is to be made sure that there is a good amount value-basedactive contracts at any given time.By conducting surveys we can make sure that patients feels like the services provided meet their expectations .it will also help the health providers t understand the overall needs of the patient to develop effective bundled services.With the state-of-the -art technologies,people are becoming more aware of their health and has lot of sources in the internet from where they can avail all the necessary informationconcerning health.so if the health care companies has to keep up with the competion they have to provide impressive quality care.

The value based health care in the hospital are now undergoing changes.After the implementation of quality based care.We are able to get quality care at a reasonable rate and both me and my family are satisfied with this transition.