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The Value Assessment Framework

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Abstract

The value assessment framework developed in this chapter involves three primary components: (1) define value, (2) determine the relevant costs and benefits as well as the appropriate metrics to compare them, and (3) interpret the results for the intended audience. Each of these components involves more specific activities, such as defining the scope and perspective of the assessment, acquiring data and information on costs and benefits, and performing the calculations specified by the chosen metrics. The framework aspires to be a guide that can help ensure that key components of any value assessment are considered, defined, and addressed. By using a standard framework, hopefully value assessments can be more readily evaluated and compared and healthcare professionals will begin to think more critically about value as it relates to their unique perspective, motivation, and goals.

Keywords

  • Value assessment
  • Value-based care
  • Value metrics
  • Interpretation of value

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Fig. 8.1
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Notes

  1. 1.

    In general, the benefits listed have potential benefits to third-party healthcare organizations (TPHOs) that seek to sell their solution to payers, providers, and/or patients because of the benefits those entities realize through the use of the TPHO’s solution.

  2. 2.

    I provide a much more comprehensive look at ROI and BCR in the 2020 book, Return on Investment for Healthcare Quality Improvement (Springer), and therefore I do not go into extensive detail here.

  3. 3.

    Depending on the situation, it may be reasonable to assume that both costs and deaths would be standardized to a specific population size, so that they were actually rates per 1000 patient months, or something similar.

Reference

  1. Solid CA (2020) Return on investment for healthcare quality improvement. Springer Nature, Cham

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Solid, C.A. (2022). The Value Assessment Framework. In: Practical Strategies to Assess Value in Health Care. Springer, Cham. https://doi.org/10.1007/978-3-030-95149-8_8

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  • DOI: https://doi.org/10.1007/978-3-030-95149-8_8

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-95148-1

  • Online ISBN: 978-3-030-95149-8

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