Quality and cost are the two factors that determine value in healthcare. How are hospitals trying to give healthcare consumers more value for their money? Dr. Patrick Cawley of MUSC explains.¿
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Well value comes—there’s two pieces of value. So when you say the word value in the healthcare community means two things. It means, high quality at a low cost, so that’s basically what it means which many years people just talk about the cost of healthcare. More specifically they talk about the quality of healthcare. Value actually attempts to take those two concepts and put them together. It’s because the quality piece of value has been much more focused on the past probably 10 to 12 years. There’s been some push around patient safety and there has been pushes around, quality improvement. All of which started with the institute of medicine releasing some landmark books and studies which show that the American Healthcare System needs to have better quality. It needs to have better patient safety. And it started about 10 to 12 ago and over the past 10 to 12 years, that’s what we’ve been working on, progressively improving the quality. At the same time, for a long time we’ve been hearing about the high cost of healthcare. So the — kind of doing now is to provide high quality, high patient safety, but at a lower cost. So, that’s why the term value all of a sudden has come out in the last two to three years and I think this is the inner sac of those two movements which have been going on for a while.
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