Value-based healthcare, the 5 basic principles that will change the world of medicine
Introduction
The world is in a dire need of creating a more sustainable and efficient healthcare system that delivers value to its patients and improves the overall wellbeing of the entire community it serves.
Value-based healthcare may seem like a novel idea, but it has been around for more than twenty years, helping medical centres, pharmaceutical companies and insurance companies to have the greatest impact on patients while improving cost-efficiency in health care services.
What's Value-Based Healthcare?
Value-Based Healthcare is a transformational concept whereby health care providers are compensated for the health and well-being of their patient population rather than for services rendered.
This paradigm shift began in the heavily privatized healthcare landscape of the United States of America, but has spread around the world over the past couple of decades, adapting to different systems and philosophies.