From Counting Widgets To Sizing Up Value

A recent comment in a group of provider organization chief financial officers (CFOs) provided an interesting perspective. One of the comments was, “We know how many widgets we produce, what those costs are, and the revenue we need for them. We build financial statements around that.”

But the competition for consumers and for health plan contracts is moving away from standardized commodity-priced services to competition based on value. That value may be in the form of value-based reimbursement—or it could be in adding consumer-centric features in the service delivery process that attract more consumers and more . . .