ABSTRACT
Value is defined as: Outcomes / Costs. For healthcare, the outcome is measured as the patient's overall health as a result of care over time, whereas costs are the summation of all costs measured over time for patient's condition and not cost of individual services. The Value Management Office serves as a center of excellence for determining evidence-based outcome measurements. This can facilitate the creation of value-based care models and support information technology governance by evaluating business case investments and projected benefits to link people, processes, and technology. The Value Realization Framework provides the methodology for aligning mission, vision, and values with concrete Critical Success Factors, measurable Key Results Indicators, and objective/measurable Key Performance Indicators. The execution of the Value Realization Framework enables creation of a Common Operating Picture when data from all three dimensions is integrated and business intelligence is performed to enable Healthcare Delivery Organization leaders make informed decisions related to delivering cost-efficient, quality care outcomes for patients.
