What is Value-Based Healthcare?
Since 1980, the healthcare environment has been reshaping itself. Today, there are 1400 less hospitals and yet a 40 percent increase in population. In 2010, Western Maryland Health System (WMHS) could see this change and implemented a value-based care model within our system. We transitioned our workforce to shift the delivery of care away from volume-based care to value-based by moving care across the care continuum and to provide care in the most appropriate location. Value-based care is considered to be the future of healthcare with a focus on helping patients improve their health and well-being through a shift on health emphasis and resources. This care model engages healthcare providers to reduce admissions and readmissions; strengthen patient engagement; reduce variation in quality; work collaboratively with community partners; reduce utilization of the emergency department (ED) as well as observation and ancillary services while saving millions of dollars. This approach measures health outcomes against the cost of delivering those out- comes.