Quality vs. Cost in Healthcare
Due to the recent advancements in healthcare, quality has turned into an unrelenting issue. The amplification of demand for quality in healthcare is due to the increased population base and increased affordability rate. It resulted in ‘quality of hospitals is directly proportional to the higher cost of hospitalization’.
Well, cost and quality are usually related to one another. Sometimes, when we are looking forward to save money, we often go for the cheaper service. The notion that entirely relates to our culture is “we get what we pay for.” Even, we look at the price as a proxy for quality. But, be careful while applying this strategy to your healthcare plans in India.
Today, even in this most challenging environment, most of the healthcare services are providing affordable healthcare plans and had reformed numerous initiatives to enhance both the cost and quality of hospitals. To be sure, Indian health systems as well are experiencing changes in providing a better quality of medical care services.
All around the world, healthcare systems are struggling hard due to rising costs and inflexible quality. Healthcare quality improvement makers have so far tried a variety of fixes such as reducing errors, cutting out frauds, patient safety measures and more. But, it’s the right time to implement the fundamentally new strategy.
Yes, the central requirement to bring change in healthcare system is to focus on ‘what physicians do’ to ‘what patients need.’ Every move that you take should be patient-centric instead of profitability. It’s not a single step to make a transformation overnight to attain value-agenda. Some organizations are still in individual practice areas, but some other agencies have large-scale changes involving the best components of value agenda.
Below are the ways that can provide patient-engaged care that can simultaneously enhance the quality and reduce costs.
- Highly liable to individual patient fondness and their needs
- Get attached with clinicians supply data and guidance based on their systematic know-how
- Even, associated with enhanced clinical results, faster recovery, diagnostic tests, and better care
- Theft of drugs and hospital assets
- Lower annual charges
- Patients dislike more aggressive and costly courses of treatment.
- Cheer up patients to ponder in their health and know them about healthy behavior.
- Tele-monitor their physiological data
- Structured after-care contacts with physicians
In healthcare, the primary goal for providers should be improving the quality and the value of the patients, where the value here is related to the patient’s satisfaction and cost achievement. Some of the small goals like increasing profit, having costs, and improving access to care can bring distraction. So, every healthcare provider should concentrate on improving the value for patients. All this is changing now; finally, health services are moving off from higher fee for service to performance-based return. If this is happening, then why can’t you turn ahead to bring a bigger impact towards your service?