Value-Based Health Care Supported by Data Science

Abstract

The value agenda involves measuring outcomes that matter and costs of care to optimize patient outcomes per dollar spent. Outcome and cost measurement in the value-based health care framework, centered around a patient condition or segment of the population, depends on data in every step towards healthcare system redesign. Technological and service delivery innovations are key components of driving transformation towards high-value health care. The learning health system and network-based thinking are complementary frameworks to the value agenda. Health care and medicine exist in a data-rich environment, and learning about how data can be used to measure and improve value of care for patients is and increasingly essential skill for current and future clinicians.

From centralized DRG costing to decentralized TDABC-assessing the feasibility of hospital cost accounting for decision-making in Denmark

“…There is a growing body of literature investigating the phenomenon of value-based healthcare initiatives in hospitals [23,25,26,35,36], which particularly focuses on the more strategic elements of providing services from a patient perspective [35][36][37]. Another stream of literature focuses on the implementation of TDABC in relation to VBHC [7,16,27,28,38], where most of these studies have to narrow the scope of study down to department or facility level to comprehend the complexity [38,39].…”

“…Theoretically, cost accounting has long been part of the foundation for diagnosis-related group (DRG) rates, which are applied in most OECD nations for benchmarking, pricing, and/or hospital resource allocation [10,12,20]. Moreover, cost accounting is a vital part of the newly defined value-based healthcare (VBHC) agenda [21,22], which seeks to investigate the patient's total use of resources across healthcare departments and organizations [9,[23][24][25][26] through the particular application of TDABC [6,16,27,28]. Additionally, cost accounting is highlighted to be of vital socio-political importance for "solving the cost crisis in healthcare" [29] and achieving cost-effective delivery of healthcare [5,14].…”

Democratizing health insurance services; accelerating social inclusion through technology policy of health insurance firms

“…Technology in health care is critical due to increasing disease burden and accessibility issues for quality health care (Leung & van Merode, 2019). Technology plays an important role in reducing inequalities in health care delivery and enhancing quality of life (Mitchell, Chebli, Ruggiero, & Muramatsu, 2018) thus strengthening social inclusion.…”