Reporting Framework for Value Based Care
Learn how a provider's relative performance, or 'value', can be evaluated through three key components in an equation: quality, efficiency, and cost.
The concepts for the measures for the newest MedInsight product, the Health Waste Calculator, were identified from various publications about avoidable healthcare, medical waste, and Choosing Wisely. The team identified an initial list of 134 measures to develop. The prioritization of the initial 20 waste calculator measures, version 1 and 2 (see Appendix I below), was based on the following criteria:
Further an analysis was conducted on a set of claims data for a small Midwestern HMO health plan to find the average cost and the number of events that were wasteful out of a total of 10,074 enrollees, about 1% of their total costs were classified as wasteful using the first version of this product. A sample of this claim cost analysis is shown in the table below.