According to Statista, as of 17th August, the US has the highest number of COVID-19 cases in the world. With more than 5.3 million reported cases across the country, the chances of bringing the virus under control in the near future appear bleak.
The Centre for Disease Control (CDC) reports that 169,350 have died in the country due to the virus.
However, according to experts, we could have tackled the pandemic in a better way if we were prepared. Due to the insufficient inventory of personal protective equipment, N-95 masks, and other medical supplies, doctors and patients had to suffer a lot, especially when the number of cases rose.
The virus brought to light the serious deficiencies and shortcomings of the American healthcare system. Due to the inability of the system, millions of Americans had to face several medical and socio-economic challenges.
Today, the concept of value is a prominent topic in the healthcare sector, which accounts for an individual’s needs, wishes, preferences, and ethics.
Therefore, the real question is how we should redefine values in the American healthcare system so that it can deliver timely, effective, and affordable healthcare to the people.
Below is a list of some core values that should be an integral part of a successful healthcare organization:
Patient-Centric Benefits
Value-based health care calls for delivering values that matter most to the patients. Physicians often relate to providing more value with increasing hospital visits. However, patients wish for good outcomes, which are not reflected by more visits, but by better health conditions and value.
It means that the money they spend in the hospital should equate the fairly with the care that they receive.
For instance, a study indicates that back pain affects around 80 percent of Americans. Despite the prevalence of back pain among the population, it’s most basic surgical treatment costs around $12 billion per year or $29,000 per person. Thus, making it unaffordable for many people.
Therefore, healthcare service providers should offer treatments for common medical conditions considering the socio-economic status of people.
Managing for Innovation
It is important to incorporate innovation to improve healthcare services and programs. For example, the past decade witnessed a big shift from paper-based health records to digital health records. It made the information accessible, which resulted in more informed decisions.
However, digitizing healthcare records is just the first step toward innovation in the health care system. Benefits can only be truly realized when all the individual systems and databases have been connected, including enterprise systems, patient-facing systems, and third-party apps.
Focus on Community Health and Societal Responsibility
Healthcare leaders like senior doctors and the board of directors should stress responsibilities to the public, the consideration of societal well-being, and the need to foster improved community health.
These leaders should serve as role models for their organization and its workforce in the protection of public health, safety, and the environment. This protection involves taking into account any impact of the organization’s operations on the general public.
Also, healthcare organizations should focus on resource conservation and waste reduction to avoid any environmental damage.
Visionary Leadership
Senior leaders in the health care sector should set a vision for the organization that focuses on patients and other customers. Besides this, health care organizations should demonstrate clear organizational values and ethics and set high expectations for their workforce.
The vision, values, and expectations should balance the needs of all the stakeholders involved. Apart from this, healthcare leaders should ensure the formulation of sound strategies, systems, and methods for enhancing knowledge and capabilities.
Moreover, they should be the ones encouraging innovation, requiring accountability, achieving performance excellence. This, in turn, will help them in ensuring ongoing organizational success.
Effective Payment Options
According to a study conducted by BlueCross BlueShield Association, on an average, an emergency room visit could cost an adult around $700. It means that healthcare expenses can put people under significant financial burden.
In a value-based healthcare system, the costs of treatments are mitigated by incentivizing costly treatments and less beneficial medical intervention.
It prioritizes the patients and provides them with the required care without putting them under financial risk.
One way to shield people from the sudden and expected cost of medical treatments is by offering tailor-made insurance plans based on an individual’s needs.
Companies like United Medicare Advisors, who offer customized healthcare plans to patients, have a role to play here. These companies offer insurance plans that are based on an individual’s health care needs.
Having a healthcare plan tailored to their needs allows people to save money on insurance premiums and also protects them from being overburdened by healthcare costs.
Such payment options serve as the foundation of the overall health care system as they aim to improve health care quality and reduce financial strain.
Bottom Line
A person’s health is one of the most valued assets, which can be taken care of by opting for a good healthcare service provider. It is because the lack of proper medical check-up can affect the quality of your life and your physical and emotional well-being.
Besides this, the core values of a health care organization can serve as powerful influencers and catalysts for system-wide change.
By carefully crafting the right values and making them a key part of the overall health care processes, organizations can strategically pave the way for improved patient outcomes.
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