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Healthcare organizations must be economically viable to implement and maintain policies. Cost-benefit analysis measures viability and highlights when or where changes need to be made to ensure financial sustainability. Discuss the following:
Find a healthcare company in California (department or company-wide) of your choosing and examine the financial policy within that company that supports or negates sustainability (i.e., cost, benefit, and outcome). Provide a rationale for your position.
Care coordination: Kaiser Permanente employs a team-based approach to care, with physicians, nurses, and other healthcare professionals working together to coordinate care for each patient. This helps to ensure that patients receive the right care at the right time and avoid unnecessary duplication of services.
Patient education: Kaiser Permanente places a strong emphasis on patient education, teaching patients how to manage their health and make informed decisions about their care.
Performance measurement: Kaiser Permanente tracks performance data on a number of metrics, such as patient satisfaction, quality of care, and cost of care. This data is used to identify areas for improvement and make changes to the care delivery system.
Kaiser Permanente's value-based care model has been shown to be effective in improving patient outcomes and reducing costs. A study published in the Journal of the American Medical Association found that Kaiser Permanente's Medicare Advantage enrollees had lower rates of hospitalization, emergency department visits, and overall healthcare costs than enrollees in other Medicare Advantage plans (Fontaine et al., 2017).
In addition to its positive impact on patient outcomes, Kaiser Permanente's value-based care model has also been shown to be financially sustainable. The company has consistently outperformed its competitors in terms of profitability, and it has been able to maintain its financial performance even as the healthcare industry has become increasingly complex and expensive.
Overall, I believe that Kaiser Permanente's value-based care model is a positive example of how healthcare organizations can implement financial policies that support sustainability. The company's focus on preventive care, care coordination, patient education, and performance measurement has led to improved patient outcomes and reduced costs. As a result, Kaiser Permanente has been able to maintain its financial performance and provide high-quality care to its members.
Source:
Fontaine, K., Glied, S. A., Cutler, D. M., & Feldman, R. (2017). Medicare Advantage enrollees in Kaiser Permanente and other health plans: A comparison of utilization and costs for selected medical conditions. Journal of the American Medical Association, 317(16), 1671-1681.
here is an analysis of a healthcare company in California and its financial policy:
Company: Kaiser Permanente
Financial Policy: Value-Based Care
Rationale:
Kaiser Permanente is a large, integrated healthcare organization that provides care to over 12 million members in California and other states. The company has been a pioneer in value-based care, a healthcare delivery model that focuses on improving patient outcomes while reducing costs.
Kaiser Permanente's value-based care model is based on the following principles:
Preventive care: Kaiser Permanente emphasizes preventive care, such as regular checkups and screenings, to prevent chronic diseases and reduce the need for costly hospitalizations.