Health care leaders are leading in a time when the ground is shifting beneath them. In an environment of increased financial pressure where quality agendas compete for finite resources, it can be overwhelming to know how to set priorities and direct action. Understanding the relationship of quality, cost, and value is an important step to align organizational strategy.
IHI is primed to empower health care delivery systems to provide truly value-based care that ensures the best health care and to create the discipline and rhythm needed for long-term success. Commitment to this work requires a new way of thinking about operations involving system design and many facets of change: drive with quality and costs will follow.
What is the importance of quality, cost, and value in health care today?
Many health care delivery systems find their landscape littered with multiple, disjointed initiatives focused on different aspects of tackling cost, quality, and value. These fragmented efforts operate without a tactical plan to bring the finance and quality teams together in a strategic way. The future environment in health care will not permit quality improvement to rest solely in the zone of “doing the right thing” with a view of cost savings as a bonus. Integration of efforts is essential to maximize quality and value while building sustainable organizations primed to excel in the new environment.
Suggested Resources for Getting Started
Increasing Efficiency and Enhancing Value in Health Care: Ways to Achieve Savings in Operating Costs per Year
This IHI white paper is a clear overview of the translation of waste reduction into cost savings.
Leaders Challenged to Reduce Cost, Deliver More
This Healthcare Executive article gives an overview of the initial findings for key leadership strategies from the Improving Cost + Quality initiative at IHI.
Eliminating Waste in US Health Care
This JAMA article is an incisive framework for thinking about the six main categories of waste in health care.
More Resources >>