Tag Archives: cost of healthcare

Taking a Look at What Causes Low-Value Care

Low-value care is defined as the utilization of health services that harm or in which the costs outweigh the possible benefits and there are many reasons for these actions. The desire for clinicians to eliminate situations that might cause harm is a driving factor. Although they may be unable to inform you of precisely what is occurring in… Read More »

There is Wastefulness in a Vial, But We Can Do Better

As we continue to examine areas of excessive waste to enhance affordability, it’s crucial to put all areas under the microscope, including pharmaceuticals. Though convenient, single-dose injection vials lead to wasted medication. In fact, in 2018, the Centers for Medicaid & Medicare Services (CMS) reportedly paid $725 million for discarded drugs administered in hospital outpatient clinics and physician… Read More »

Healthcare Can Be More Affordable if We Can Limit Waste

The cost of healthcare in the United States is exorbitant. There are multitudes of reasons for our elevated unit price. Many believe, waste, makes up a significant part of the problem. And the largest component of wasteful spending is what we identify as administrative costs. These are dollars that are not improving patient care, and yet, they impact… Read More »

Exploring Quality as the Use of Virtual Care Expands

The COVID-19 pandemic has elevated the speed at which we have converted to virtual care. Physicians and consumers have substantially increased their use of virtual visits and digital applications. This care includes interactions concerning diagnosis, evaluation, and management of conditions that historically have occurred in person. Because of this, many questions arise concerning the quality and utilization of… Read More »

Are People Willing to Pay Extra for Quality?

There are several external rating agencies such as CMS STARS, Healthgrades, Leapfrog, and US News and World Report that inform the public concerning the quality of healthcare facilities and physicians. Unfortunately, many of these rating agencies rarely measure the same metrics, so it can be extremely confusing both for the provider and the consumer to decipher. And being… Read More »

Taking a Closer Look at Capitation for Value-Based Care

As we focus on delivering value-based care; higher quality at a more affordable price, the conversation concerning payment models rapidly pivots to global capitation for a population of lives. The opposite payment model is a fee-for-service model, and currently, there is a belief that service-based fees lead to an over-utilization of services. Consequently, many believe the only possible… Read More »

Addressing Societal Health Issues at a Root Cause Level

As we continue to grapple with various disease states like obesity and diabetes, which impact a significant number of people, our ability to change human behaviors is minimal. We continuously design interventions that include education and behavioral modification with limited results. In essence, we appear to be attempting to prevent water from streaming out of the hose by… Read More »

If We Invest in Social Needs, There Can Be a Great Return

Recently, there is a tremendous amount of focus on the value of social interventions and healthcare costs. To be of optimal help to the greater society, it is important for us to thoroughly understand how to investigate the value of such interventions. In the journal, Health Affairs, a recent study by Kangovi et al. investigates the return on… Read More »

When it Comes to Improving Healthcare, Consumers are Accountable Too!

Overall, we focus a considerable amount of time and energy on physician accountability for delivering value to those we serve. However, with consistently increasing costs to the consumer, there is less conversation concerning their responsibility. Currently, there is a societal debate asking what exactly, are the duties of individuals involving their own health and well-being. Undeniably, patients’ behavior… Read More »

Managed Care and Managed Competition Working in Tandem Can Hold Down Costs

As we continue to evaluate the cost of healthcare, two main ideas are gaining traction; managed care and managed competition, both are models designed to enhance value in a market. Defined as patient-centered, managed care coordinates care, thereby providing payment incentives that reward achieving cost, quality, and service measures; thus, offering value-based care, whereas, the managed competition model… Read More »