Value: What it means and how do we get there?

Today, Jack Bailey, Senior Vice President, Policy, Payers and Vaccines, GSK, is attending the Financial Times Healthcare and Life Sciences Conference. He’s participating in a panel discussion on how to incentivize value-based healthcare in the US—and ultimately improve care and lower costs. 

Access to healthcare—and health insurance—makes headlines in the on-going debate on US healthcare reform. Outside of policy circles, what often do not get the attention they deserve—but might have the largest impact—are the measures aimed at tackling the escalating costs and improving the quality of care.

Today in the US there are dozens of organizations focused on developing and defining hundreds of “quality measures”—ways to track how individuals and organizations in the US healthcare system are measured and rewarded for the care they provide. This is an incredibly complex process involving multiple stakeholders from across all facets of the healthcare system. 

There’s no question the system is moving in the right direction and that ultimately, we’re on the right track to a better system for patients.  However, shifting to a value-based healthcare system – one that rewards the value of care a patient receives rather than the volume of services, tests, doctors’ visits and resources they receive – is difficult.

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