How Value-Based Health Care Model Reduce The Cost Of Medical Expenses?
The ever-increasing cost of healthcare-related services of hospitals is the prior most concern for the country. In the past many years, there has been a drastic shift from the traditional fee-for-service (FFS) model to value-based health care or pay for performance in specific areas. Miya Health designed value-based model is a healthcare delivery program in which providers, including hospitals and physicians, are paid on the basis of the patient health outcomes, thus, helps in minimizing the expensive charges of healthcare service providers.
The major aim of the Asian Healthcare Company is ensuring close collaboration with clients creating and implementing healthcare strategies that help healthcare and medical entities resolve their challenges and meet their goals effectively, efficiently, and professionally.
Healthcare consultants working with consulting firms working in the field of healthcare are specialized in this field and provide support to the industry. These consultants have a greater expertise level making desirable for the clients like healthcare centers and hospitals.
Actually, value-based healthcare is about the quality of care instead of the quantity of care. It is an innovative healthcare model which decreases the cost of health services and increases the overall wellness of patients. It is a proactive approach to medicine rather than a reactive treatment of disease.
The 5 Most Acknowledging Benefits of Value-Based Health Care Model are as follow:
Patients spend less money to achieve better health care results
Treating chronic or life-threatening diseases like cancer, diabetes, high blood pressure or obesity can be costly for many patients. To overcome the patient’s concern, value-based health management solutions in Malaysia focus on helping patients recover from illness and other health issues quickly and avoid chronic disease while spending less money.
Achieve patient satisfaction
To achieve maximum satisfaction of patients, healthcare providers devoting more time to new, prevention-based patient services. With the innovation of the value-based model, quality and patient measures increase when the focus shifted from volume to quality services.
Society become healthier with reducing healthcare costs
Less money spent on treating illness and injuries, helping people manage their chronic diseases and costly hospitalizations and medical emergencies.
Reduced medical errors
Medical errors are an increasing concern among insurance sponsors such as large groups of employers. With the rise of the value-based model, they are now buying insurance policies that incentivize care service providers with value-based purchasing plans that ultimately reduced medical errors and improving the service quality.
Promotes healthy habits
Bad habits such as consumption of excessive alcohol, smoking cigarettes, and over eating contribute to poor health. Many insurance buyers adjust their benefits packages to conform to insurer recommendations. This promotes healthy habits among patients, employees, and society.
It can be concluded that every year people spend the amount of money and waste each year in healthcare services, thus Miya Health value-based model certainly worth a try to minimize your medical care costs. We have a healthcare model which helps you to pay providers based on the health care quality that you receive. This is very beneficial for patients, providers, payers, suppliers, and society as a whole.