Harvard Grad Develops Analytics Tool For Providers To Deliver High Quality and Cost Effective Health Care

Derek Haas, the CEO of Avant-garde Health, discusses the company’s mission and vision. “He is on a mission to make the delivery of healthcare more cost effective. Derek grew up in a family of doctors and learned of many pain points in the healthcare industry at the dinner table.” Read More

Health Care Providers Need a Value Management Office

At a time when hospitals are trying to reduce expenses, we discuss how a value management office can greatly enhance an institution’s ability to improve outcomes and costs across the enterprise. Exploring two hospitals pioneering in centralized management, we show three areas of value-outcomes: Improvement on the collection of outcome measures, integrate quality data into care delivery, and expand from process excellence to population management. Read More

Measuring and Communicating Health Care Value with Charts

In order to understand the metrics of value-based care, we seek to answer: how do you calculate the value of care when, as is typically the case, a medical condition has many relevant outcomes, each measured in different ways? And how do you communicate that information in a way that is accessible and actionable? We discuss our findings on the radar chart as an effective means to visually depict outcome and cost data simultaneously. Read More

The Mayo Clinic Model for Running a Value Improvement Program

A team at Harvard Business School has worked with dozens of health care organizations to help them understand the true costs of their treatments for many medical conditions. One of the team’s central findings is that Time-Driven Activity-Based Costing cannot be delegated to the finance function. Using Mayo Clinic as an example, we examine the approaches needed to successfully implement value realization in each project. Read More

Getting Bundled Payments Right in Health Care

Centers for Medicare and Medicaid Services in July of this year have proposed a bundled payments program for knee and hip replacements in major metropolitan areas called Comprehensive Care for Joint Replacements. Lessons from the Hoag Orthopedic Institute and Rothman Institute reveal three essential factors in achieving bundling success: “excellent data on outcomes and costs, proactive management of the patient, and alignment between physicians and hospitals.”  Read more

How Not to Cut Health Care Costs

Health care practitioners and administrators across the world are facing tremendous cost cutting pressures. Many of their attempts are counter-productive, however, leading to lower outcomes and resulting in unintended costs. Based on work with over 50 hospitals, we detail the biggest mistakes hospitals make in cost cutting and suggest a way forward. Read more