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How does innovation in healthcare work?
Better yet, what can we do to encourage innovation in healthcare? What are the challenges with encouraging innovation in healthcare? The questions seemingly go on and on. Now, we’ve talked on the show about the 4 stakeholders in healthcare (policy-makers, providers, payers, and patients), and we’ve discussed how each of those stakeholders hold differing factors and views when it comes to determining value in healthcare. One of the areas critical to improving the overall quality and reducing the cost of healthcare is innovation in the marketplace. Innovation drives improvement across all stakeholders. not just in healthcare, but in any market. The problem in healthcare then, seems to stem from a lack of innovation in healthcare delivery and reimbursement. We’ve made great gains in technology, remote patient monitoring, and virtual service delivery, but none of that seems to have translated to read reduction in cost. This has led to policy-makers, regulators, and politicians to try one thing after another in seeming desperation to reduce the rising cost of delivering healthcare services.
Well, my guests this week on the show, Ron Baker & Ed Kless from the Verasage Institute and The Soul of Enterprise Radio show, provide some great insights about healthcare, innovation, and true value-based reimbursement strategies in healthcare.
What we cover in this Episode
- The importance of understanding ROI & Value in Healthcare
- How the current fee for service model negatively affects value and incentives
- The rising cost of healthcare
- The conflation between healthcare and health insurance
- Understanding differing perspectives of value for the 4 stakeholders (patient, provider, payer, policy-maker)
- Differing incentives in healthcare and how to align incentives to improve patient experience
- Innovation in the form of Direct Primary Care and the like
- Leveraging payment structures to promote Better Outcomes
Connect with Ron & Ed
If you enjoyed this episode: Join Rafael E. Salazar II, MHS, OTR/L (Rafi), principal of Rehab U Practice Solutions and host of The Better Outcomes Show as he explores the possibilities of a new healthcare. Guests range from clinicians trying new techniques and treatments to executives and entrepreneurs exploring new service delivery methods, business models, and organizational structures. You can sign-up to receive new episodes delivered directly to your inbox by filling out the form at the top of this page. Learn more about Rehab U Practice Solutions by reading The Manifesto for a New Healthcare, or listen to Episode 000.
Are You Ready to Take Your Organization to the Next Level?
If you run a clinic or practice and are looking to develop a strategy that leverages best practices, new technology, and marketing/messaging in a way that maximizes patient engagement & retention, please reach out. We’d love to talk with you about how Rehab U Practice Solutions can help your clinic bring in more patients, retain them throughout their course of care, and create uniquely impactful patient experiences.
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Work With Us
If you’re ready to craft a strategy to help your organization bring in more clients, retain them throughout their course of care, and create uniquely impactful patient experiences, then reach out. We’d love to talk with you about how Rehab U Practice Solutions can help.
What we can help you do:
✅ Train your staff and clinicians to be able to confidently communicate the value your organization provides…
✅ Leverage best practices, new technology, telehealth, and marketing/messaging to maximize patient engagement & retention…
✅ Develop a system that keeps patients & clients happy, engaged, and satisfied throughout the entire process of care…
We help you not only craft marketing messages & campaigns that build that know, like, & trust value you need to convert leads into scheduled clients; but we also work with your clinicians and staff to make sure that, once a patient decides to schedule an appointment, you have a system setup that keeps them happy, engaged, and satisfied throughout the onboarding, treatment, and discharge process.
In short, we help your whole organization become focused on the most important thing in healthcare: people – the people who work for your organization, and the people who your organization treats and serves.
such a nice article. Thank you