WHY A HOSPITAL VALUE REPORT?
Michael Porter provides a straightforward framework for all participants around patient value. And yet, healthcare in the United States and here in Colorado consistently fails to meet the litmus test of high value – both with regard to quality and cost.
Quality variation is wide and ubiquitous – across, as well as, within virtually any given hospital. And prices – even after adjustments for patient acuity, the local cost of living, labor mix, amount of uncompensated, care and several other factors – vary wildly.
As the nation’s healthcare spending continues to grow above the general rate of inflation, the pressure on providers, insurers and drug manufacturers to provide transparent price and quality data is mounting. Moreover, patients, burdened by rising deductibles, demand the information needed to shop for healthcare services in a more informed way.
- For the most part, the majority of Colorado hospitals offer services that rank among the highest in the country. At the same time, however, the near opposite of that statement is also true: the majority of Colorado hospitals offer at least one service that is among the lowest in the country. (And several more that would be rated as “average.”)
- High prices at specific Colorado hospitals CAN correlate with higher quality for some services, but the price absolutely does not reflect or predict higher quality for all services – in significant contrast to the experience consumers have with other goods and services in the US economy.
- The encouraging news seems to be that there are high performing, lower-priced hospitals in Colorado. Only a hospital value report such as this, however, can assist plans in identifying them.
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Quantros helps organizations make this shift from reactive to proactive by implementing a comprehensive safety solutions suite that integrates all key pieces of patient and event information. These solutions minimize time around manual entry and allow for more complete tracking and root cause identification. Our safety surveillance solution monitors billing data and identifies missed events and flags them for staff to be reviewed to ensure they are included in reporting and analysis. Over the last 20+ years Quantros has set out to help healthcare leaders solve their most challenging care variation and risk issues – leading to improved outcomes and reduced costs.
Thousands of healthcare organizations trust Quantros to provide insights, expertise, and precise data to help them deliver safer, higher quality patient care. Learn how Quantros can help you deliver a best-in-class patient safety experience. Contact us by emailing firstname.lastname@example.org or schedule a demo today!