Improving Delivery of Healthcare for Better Outcomes

KEY POINTS

• Around the world, healthcare providers, governments, and payers are under intense pressure to improve patient outcomes while reducing costs. We believe the solution lies in a transition to value-based healthcare (VBHC).  Our goal is to partner with stakeholders to improve outcomes and expand healthcare access in a more sustainable and cost-effective way around the world.
• We define VBHC as an effort to develop and deploy products, services, and integrated solution offerings that improve clinical and economic outcomes per dollar spent in the healthcare system, measuring value in terms of longitudinal patient-centric outcomes rather than short-term transactions. 
• Using technology, data, and improved care coordination, we can build efficient systems that significantly reduce costs while improving outcomes.  From measuring clinical and economic outcomes to spotting population trends, data is an essential tool in highlighting ways in which healthcare can become more efficient and cost-effective.

Overview

1. Higher Quality, More Integrated, Lower-Cost Care
   
   

   Around the world, healthcare providers, governments, and payers are under intense pressure to improve patient outcomes while reducing costs and expanding access to high quality healthcare. We believe the solution lies in a transition to value-based healthcare (VBHC). We are collaborating with partners around the world to move healthcare in a more sustainable, collaborative direction. Together, we have created resources to further learning and examination of VBHC. Our goal is to partner with stakeholders to improve outcomes and expand healthcare access in a more sustainable and cost-effective way around the world.

2. Value-Based Healthcare Defined
   
   

   We define VBHC as an effort to develop and deploy products, services, and integrated solution offering that improve patient outcomes per dollar spent in the healthcare system, measuring value in terms of longitudinal patient-centric outcomes rather than short-term transactions. VBHC is a healthcare delivery model in which providers, including hospitals and physicians, are paid based on patient-centric health outcomes. VBHC differs from a fee-for-service approach, in which healthcare providers are paid based on the amount of services they deliver. The “value” in VBHC is derived from measuring health outcomes against the cost of delivering the outcomes.¹

3. Quality Healthcare, On Demand
   
   

   With sensor technology rising in popularity, inpatient hospital care on the decline, and a staggering 30% of healthcare spend attributed to administrative costs, Medtronic is working with healthcare providers to identify new ways to meet patient needs outside of traditional care settings. Using technology, data, and improved care coordination, we can build efficient systems that significantly reduce costs while improving outcomes.²

4. Driving Toward Data-Driven Healthcare
   
   

   From measuring clinical and economic outcomes to spotting population trends, data is an essential tool in highlighting ways in which healthcare can become more efficient and cost-effective. However, the key to building data-driven healthcare systems is not necessarily generating more data, but improving accessibility to smarter data. Medtronic partners with hospital systems and industry leaders to integrate our technologies into the patient care pathway.²

5. Leveraging Smart Products, Strong Partnerships
   
   

   The transition from a fee-for-service to a value-based model of healthcare is a necessary, but difficult transition, requiring coordinated efforts of all healthcare stakeholders. Medtronic is addressing issues that are slowing the transition, and unlocking the full potential of our data-driven technology is a key step in the process. Working with our partners across the care continuum, we are broadening our innovation horizon based on their needs.²

See also:

• Integrated Health Solutions
• Responsible Promotion and Compliance