Creating the healthcare transformation from volume to value

The transformation from a volume-based to value-based healthcare delivery system will require the development of a patient-centric framework for healthcare reform. Providers will first need to create integrated and coordinated practice units that measure and publicly report outcomes that truly matter to patients. Providers will also need to understand their true costs of delivering care over the full care cycle. As providers deepen their expertise in specific service lines, currently broad service line strategies will need to give way to more focused, highly performing, and integrated units that seamlessly communicate between multiple geographically expanded sites of care. Rather than being a solution itself, health information technology systems will enable this transformation. Finally, shifting away from traditional reimbursement models, such as fee for service, capitation, and global provider budgeting systems, and toward bundled payments for the full care cycle will galvanize value-based competition among all healthcare stakeholders, ultimately improving outcomes and decreasing costs.