Transforming Healthcare through Population Health Management and Value-Based Care
The healthcare system is undergoing a transformation to a value-based funding model, which has concrete benefits for all stakeholders, including providers and patients. A successful transformation entails major changes in care delivery: new levels of care coordination, care provided in an integrated manner both inside and outside the hospital, the ability to measure and improve quality of care, and provision of much more information about how the system is performing to all stakeholders.
Population Health Management (PHM) is a cornerstone initiative in this transformation. PHM promises tremendous payoffs but requires a complex undertaking. It is about changing the behaviour of engaged consumers to lead healthier lives, and encouraging physicians to focus on providing the best possible quality of patient care at the lowest possible price. This model requires providers to collaboratively address whole populations. In short, they must orchestrate healthcare at scale.
This white paper offers insights on technology and strategies to help providers achieve that valuable objective.
Population Health Management Still Emerging
PHM is in its early growth stage. Signify Research forecasts the North American market for PHM-related products and services will increase from $3.6 billion in 2017 to $6.8 billion by 2022. At that point, a projected 366 million lives will be managed through PHM programs. A KPMG survey revealed that 44% of organizations have an effective program in place, while 24% say they will implement one in the next three years.1 Signify’s analysis also shows growth in Europe and other non-U.S. countries, demonstrating PHM’s key concepts and drivers are now applicable to any health system globally.