The vast change in the healthcare sector from a volume-based approach to a value-based health care approach has transformed every aspect of operations. Hospitals' initiatives for value based care promotes quality health among patients. In this case, value-based is the product of quality which gets doubled by the costs. As the quality of health care treatment increases, patients can conveniently avail more quality value of the health care services.
This is why many health care systems are switching to the value-based model of digital healthcare in Asia as both patients and providers can experience positive outcomes. Some of the positive output of the innovation of value-based health care model includes:
• Healthcare service providers paid on patient’s health outcomes
In the value-based model, health care service providers, including hospitals and clinics are paid after the evaluation of patients’ health recovery. It means on the basis of patient health outcomes, health care service providers will be paid rather than on the volume of health care treatment provided.
• Patients have to spend less for better health care results
Since value is the key to this model, there’s no longer a need for patients to spend out of their pocket capacity to get the best care. In the value-based model, health care providers focus more on preventative care that costs less in treating chronic health issues like diabetes and obesity. As the most effective population health solutions, patients in this effective model will have fewer doctor’s visits, medical tests, and treatments- ultimately spend less on medication as their health improves.
• Patient’s satisfaction increases with effective health care procedures
In a value-based care model, health care providers focus on providing effective care rather than volume-care to earn money. Due to this change, patients will directly receive coordinated and effective health care treatment that is best for the patient's condition. Not only does save it save money, but also the time spent on examining patients or follow-up visits.
The value-based care approach encourages health care providers to provide treatments that are custom-tailored to the population's health. In a one-effective word, this model prioritizes patient’s health over costs and volume of healthcare.
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