What is value-based healthcare and how it will benefit the consumers?

The Healthcare industry is revolutionizing with doctors, pharma, and drug manufacturers coming together to upscale and benefit the people with the right prescription for their better and healthy life. They’re partnering with the members of the industry to make sure the majority of patients, the needy, and every other people who need medical support and treatment receive the right care at the right time. And such responsibility is leading to a model called ‘value-based health care.’

What is value-based healthcare?

Real improvement in healthcare requires restructuring of the care delivery system. To enable a high-value delivery system, partnering with doctors, healthcare service providers, government bodies, and associations is crucial. Hence, value-based healthcare can be referred to as a healthcare delivery model in which providers, including doctors, hospitals, and pharma experts, are paid based on the results of the patient’s health. The healthcare providers and physicians help in improving patients’ health and reducing the effects and incidence of chronic disease.

In a value-based model, healthcare providers are paid based on the number of healthcare services they deliver and specific performance measures of the outcome of the service. To simplify, a patient pays for the quality of value-based care against the quantity.

Value based-healthcare in India

Although India is facing a transformational challenge when it comes to its healthcare system, the same can be addressable if the medical community comes and grows together. It needs to focus primarily on preventing and treating the life-long, acute, and proactive chronic care encompassed across India’s burgeoning middle class.

For a country with more than a billion people, creating a healthcare system to cater to this humongous population is no easy job. And move from a fee-for-service to a fee-for-value model will take time, and the transition would be a difficult task. As the Indian healthcare landscape continues to evolve and providers increase their adoption of value-based care models, they may face a low in short-term finances before hitting the long-term decline in costs. Since the costs attached are enormous, the government is also lending its helping hand with various initiatives, workshops, and financial grants. Such aid and assistance by the government are motivating enterprises, physicians, and healthcare service providers to come along and make India a healthy nation. Hence, this model could be the best method for lowering healthcare costs while increasing the quality of healthcare and helping people with healthier lives.

Medulance, an app-based ambulance booking service in New Delhi also aims to deliver value-based services to patients and those in need with its constant quality and an expert team of medical respondents.

Furthermore, the value-based healthcare movement will be possible only with the collaboration of people, organizations, and governments that believe in delivering essential health care to the citizens of the country.

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