Business Best-Practices for Success in Medicare's Value-Based Health-Care Program

This book is a must read for health-care organization leaders. This research is of significance for the health-care organizations looking for a fresh approach to use resources appropriately to reduce waste, increase value of services, deliver the quality of health care the system as intended, and enable health care organization leaders to maintain their financially profitable status.

This study supports the need for evidence-based business strategies that facilitates success in participating organizations of Medicare's value-based program and a redefinition of financial sustainability in health care that emphasizes value.

Within the health-care industry, numerous quality improvement strategies exist to promote a more efficient and effective system. Despite such strategies, the health-care system is yet to experience sustained quality improvement.

Value-based health care is a pecuniary strategy established by the Center of Medicare and Medicaid Services to achieve sustained improvement, both in the delivery of care and in clinical outcomes.

Medicare provides clinical process measures as a guideline for organizations in delivering higher quality with a value-based strategy. This strategy situation may create difficulties for organizations in selecting the most suitable business strategies that maintain a quality-financial balance.

Leaders are left to guess at business strategies most optimal for success in the program, as well as for the organization's financial sustainability.

Sustained improvement in the health-care industry can be accelerated when leaders are knowledgeable on appropriate strategies important to increasing the value and quality of care, while reducing waste.

This exploratory qualitative study used the Malcolm Baldrige Criteria for Performance Excellence as a quality improvement tool for exploring the business strategies can promote clinical and financial success for organizations participating in Medicare's value-based program.

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