EP06.02 - Economic Model for Financial Incentive Change to Drive System Transformation
e-Health ePoster Library. Lukac V. Jun 7, 2016; 131587; EP06.02 Disclosure(s): Gevity Consulting Inc.
Valerie Lukac
Valerie Lukac
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Abstract
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Focus of the Panel Discussion: Healthcare financing drives our service delivery organization processes and siloed structures. To truly integrate patient care across the care continuum, we need to develop a new economic model for financing service delivery organizations which will follow the patient throughout their care journey and foster innovative solutions which improve patient outcomes and safety. By associating reimbursements so as to provide care in the appropriate setting level, promoting prompt discharge and flowing savings to primary care, continuing care sectors and patient centered care, we will realize overall economies for the health system while increasing access, sustainability and efficiency. Objectives: Canada spends more than $200 billion on health care every year. On average, health care accounts for more than 40% of provincial and territorial government spending. The challenge of controlling costs and putting the health system on a more sustainable financial footing is compounded by social and technological changes that are increasing the need for and cost of health services. Developing an economic model by measuring and analyzing activities, processes and outcomes of care will enable a better understanding of the effectiveness of health interventions and better support the integration of care for high-needs users of the health system, the aging population and patients with chronic diseases. This framework can then be tailored and applied by health systems leaderships to develop their strategic plans, operational redesign and adapt to financing reforms. Health IT solution implementations comprise a significant innovative transformational turning point to drive data modelling and metrics, and are part of the solution to a larger health system modeling framework. There has been some success in US health systems in implementing value-based care solutions across a broad spectrum of providers by bringing multiple, diverse sets of perspectives to address these challenges. While still much earlier in the evolution towards funding models that focus on population health outcomes and 'follow the patient' there are many similar factors are driving scale and adoption of the value-based care model in the Canadian context, including the regulatory environment, need for cost reduction, consumer pressure, changing reimbursement models, and technology disruption. However, the pace of change will depend on a variety of disruptions to the current systems: the ability to align incentives, development of care coordination protocols, vertical and horizontal integration, technology, integration of payment systems, shifting of governance and openness to innovations. Throughout this evolution, maximizing the value achieved through our health care spending can be realized only through the alignment of physicians and other clinicians, integrated solutions and analytics, lasting governance models, balancing financial incentives with risk, clinical transformation and patient engagement. Leveraging robust solutions to provide data and analytical intelligence allows for measureable performance that will drive results. Panel Perspectives Represented: Healthcare financing, strategic planning, hospital management, HIS/CIS implementation, innovations health IT research Questions for Discussion: How would Ministies of Health apply this economic model? What are tangible benefits for patients? 140 Character Summary: An economic model for financial incentive change as driver of health system transformation.
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