The HIMSS Clinical & Business Intelligence (C&BI) Pathways to Value lays out a roadmap to realize value through a clinical & business intelligence program. C&BI is defined as “the use and analysis of data captured in the healthcare setting to directly inform decision-making.” But, what is value? And how does this action plan help to create value?
Let’s look at a couple of views of value in the context of health:
Michael E. Porter and Elizabeth Teisberg defined value to patients in their 2006 book, “Redefining Health Care: Creating Value-Based Competition on Results,” as “health outcome per dollar of cost expended.”
In “The Strategy that will Fix Health Care” in the Harvard Business Review (October, 2013), Michael E. Porter and Thomas Lee refined this to: “health outcomes achieved that matter to patients, relative to the cost of achieving those outcomes.”
And most recently, Lawrence Shapiro in “Quality Care, Affordable Care: How Physicians Can Reduce Variation and Lower Healthcare Costs,” (Greenbranch Publishing, 2014) has gone on to refine the concept of value further: “appropriate + quality health outcomes that matter to patients, relative to the cost of achieving those outcomes.”