Value Based Health Care

Healthcare system is struggling globally with the rising costs and uneven quality of health care services in spite of the hard work of benevolent, well-trained clinicians. Policy makers in collaboration with health care leaders have implemented a considerable number of changes including reducing errors, enforcing guidelines and implementing electronic medical records, but more still needs to be done given the current state of health. In the US, the healthcare system is facing unmatched force to change especially from a supply-driven system that emphasises on what physicians do instead of the needs of the patients (Wicks & Keevil, 2014). Additionally, the system focuses on the volume and profitability of the services offered at the expense of
This emanates from the fact that Americans consider health insurance a necessity rather than a luxury (Navarro & Cahill, 2009). However, it is noteworthy that among all industrialised nations, the US is the only nation that does not make available universal health insurance coverage on a national level for all of its citizens. Insurance is only available to the old above 65 years and the disabled through the Medicare program and the needy through the Medicaid program. The rest receive their insurance through group insurance, which mostly applies for the employed, while those who can afford self-insuring themselves. Evidently, in as much as the insurance arrangements were meant for cost savings, the local and national competitive markets, as well as healthcare policy issues, have continued to influence the evolution of healthcare as the services increasingly become market driven. Ensuring that healthcare delivery, in the US, is value-driven reorganising how health is paid for will be instrumental, and thus making health insurance companies a worthy stakeholder in the transformation of healthcare in the
It is certain that universal Medicare is likely to increase national spending, which will be detrimental to the wealthy few who are capable of self-insuring themselves. Therefore, as to whether the value-based system is to be successful or not will be underpinned by how well the advocates for universal Medicare position themselves in reconciling increased healthcare spending with quality healthcare. Quality healthcare is a function of a value-based healthcare system that is patient-centered, but without some regulations to keep in