Demonstrate the Value of Your Medical Device or Digital Health Solution
I help you make the business case for better care
A well-crafted value assessment is the key economic component that supports your business case to payers, providers, and investors because it is both credible and compelling: it is rooted in scientific research but is framed in real-world language that speaks to your audience.
Released in March of 2022: Practical Strategies to Assess Value in Health Care.
“This book provides a deeper understanding of value as a concept as well as an endeavor.”
The book is made up of four sections:
- Part I: Understanding the Challenges of Assessing the Value of Health Care
- Part II: A Primer on Fundamental Concepts and Current Techniques Used to Measure Value in Health Care
- Part III: A Discussion of the Real-world Motivations and Requirements that Should be Contemplated when Exploring Value
- Part IV How to Design and Perform a Value Assessment
In June of 2020, Springer released my book Return on Investment for Healthcare Quality Improvement. It offers a comprehensive overview of the tools and techniques for performing ROI analyses, without requiring an analytic background.
Chapters describe the general framework for how to perform QI; establish standard definitions of important terms, concepts, and calculations; and provide specific instructions for how to complete each step of an ROI analysis. There are also examples and case studies.
It is a valuable resource for providers, administrators, policy makers, and other healthcare professionals.
(You can also check out free downloads from the book or some other free resources that can help you assess and demonstrate value.)
– To Artfully apply technical expertise –
Economic analyses and value assessments in the healthcare industry are technical endeavors that require specialized knowledge and skills. But articulating and communicating the value of your particular healthcare solution demands the creation of a compelling but credible story.
To accomplish this goal, there is a “space” that needs navigating: it is the space between the technical and the practical or real-world situation. You operate in this space when you describe the merits of your solution to investors, payers, and providers, including how it will help patients, lower costs, or improve the efficiency of care delivery. Your ability to do these effectively and therefore to demonstrate your solution’s value depends on your ability to navigate that space between the technical and the practical.
“It’s as much an art as a science.”
Recognize that some of the most important things you do occur in this space, and that they require vision, creativity, and yes, even art. Synthesizing scientific research with the reality of care delivery requires a larger vision of the future of healthcare as well as empathy for those involved in the business of delivering care. Ideally, the story of your solution should inspire and allow you to affect and connect with your intended audience so that they become as passionate about your solution as you are.
Reach out and let’s talk about how you can elevate your efforts and infuse a little art into what you do.
1. the quality, production, expression, or realm, according to aesthetic principles, of what is beautiful, appealing or of more than ordinary significance;
2. something that is created with imagination and skill and that is beautiful or that expresses important ideas or feelings
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American Medical Association (AMA) • Stratis Health • Oklahoma Foundation for Medical Quality • Optum • University of Minnesota • Indiana University • American Society of Clinical Oncologists (ASCO) • ICSI • Kidney Care Quality Alliance (KCQA) • Medtronic • NYU • Boston Scientific • Harvard Medical School • MPRO • Telligen • E4 Enterprise • Lee Branding • MetaStar