Originally published at https://www.datadriveninvestor.com
The concept of value in healthcare is really complicated with so many stakeholders associated with it. Do the political and 3rd party non-medical parties get to decide what value is? Or is it just a passing trend with more buzz around it to generate attractant?
Quality is not possible based on some mathematical formula; it can’t also be implemented with business models, mandates and policies. It is a process of maximum deliverance of treatment options shaped for the individual patient needs and physician expectations.
Quality of Care and Implications of Personalized Care
Cure sometimes, treat often, comfort always- Hippocrates
Many concepts and techniques have been formulated in the evaluation of care. But a wide range of variables such as origin, culture, genetics, education, environment, diseases are included in the consideration. The concept of personalized medicines was contributed by Hippocrates, who believed every individual as different and commented-
The Recent Trends of Personalized Care
Most people think of genomics when somebody refers to personalized medicine. But the scope of personalized medicine is much broader and covers a wide range of factors. For instance, any technology or medical equipment that enables the customization of treatment options to suit the personal expectations of the p-patient also fall under personalized medicine.
Any individual therapy or intervention that maximizes the treatment option by 100% is a perfect reflection of personal medicine.
Patient-Centered Healthcare in Light of Population-Based Model
There has been a current shift of interest towards patient-centered healthcare in the context of the population-based model. Proponents of the subject argue that will pave the way for an optimal value-based reimbursement model. But nothing can be more wrong than that- it’s like getting oranges when you wanted an apple!
The value derived from care must be accessible to all individuals, not just 80% of the patients in a population model.
Hippocrates medicine showed the way to personalized Care
Quality is not a fit for all solutions- it must be tailored and adjusted according to individual needs and preferences. Under a value-based system, the doctors, physicians, and other medical personnel are paid based on patient outcomes. This motivation encourages them to work hard to generate awareness about diseases and help them to live healthy lives. The value in this system is evaluated by weighing the outcomes and the costs involved in developing the results.
Personalized healthcare is concerned with the types of people and the forms of diseases he has. The expression by Hippocrates regarding personalized healthcare can contribute towards a positive patient outcome, whereby there is adequate and quick diagnosis and treatment of the patients.
The value-based system differs from other models, such as a fee-for-service or capitated approach where the number of services provided determines payments.
Population Focused Healthcare vs. Personalized Healthcare
Population-based health care or population-based health care focuses on the health status of the entire community or population, negating individual patient-care factors. We have touched in similar articles in the past in our blog, which highlights the same thing:
Current approaches to healthcare issues are clouded by hypocrisy
We perform our duties based on the population healthcare model but are reimbursed based on the individual outcome
The developments and treatments discovered by the scientific community cannot be implemented or targeted for the right person
We have been able to extend death but haven’t been able to improve lifestyle
We have turned a blind eye to hypocrisy through the rest of our fundamental values of Hippocrates
We are encouraged and persuaded to help the patients to help them with their decisions but can’t give them suitable options
The private medical records of patients are widely used for third party motives event they are in ownership
We cannot recommend a procedure or medicine to a patient only because it is not covered under their insurance
We, physicians, have all the knowledge and expertise to determine the best of our patients- but unfortunately, our hands are bound.
What can be done to solve the Healthcare Crisis?
We cannot address the current healthcare situation with any traditional or age-old means developed centuries ago. No “formula, “policy,” or mandate exists that can save the healthcare scenario. To restore the quality in medical settings and careful care is to be adopted because of multiple variables.
To establish personalized care and value-based reimbursement model under the approach of Hippocrates, we have to change the mindset of the patients and generate awareness. For example, a patient may request an MRI for her knee pain, but the physician cannot recommend it outside the patient’s coverage. Personalized healthcare has also been considered costly, and all countries and international bodies need to work together to create policies and frameworks where the associated stakeholders share the medical cost. However, advancements in technology like blockchain, Artificial intelligence, and other resources can facilitate care and close the gap between population-based medicine and personalization. Another concern is the pharmaceutical companies merging with insurance companies, leading consumers to desire drugs they cannot afford.
We can change the healthcare scenario to a personalized approach through high-quality, high-value care which all can afford. Personalized medicine thrives in an open market, and any strict regulations and mandates are sure to cause its failure. The patients also need to be educated and empowered to participate and give feedback on developing effective personalized care.
Health is an individual right, and only personalized medicine can empower patients. Also, we can only determine the values of customized care on a customized foundation.