The challenge
The NHS faces an unprecedented challenge to reduce costs and significantly improve quality of care. With the continual pressures and reports of inefficient services delivering poor care to patients, healthcare providers must be able to measure the impact of care provided to patients and demonstrate how cost savings have been achieved without compromising on care.
Hospitals need to understand the value of their services, what their operating costs are and determine baseline measures for all areas that require improvement. These may include patient safety, clinical outcomes, cost effectiveness and patient and staff satisfaction. The key question for NHS clinicians and managers is knowing which service area to start in.
Our solution
The Value Triangle is unique and through our initial diagnostic assessment, helps trusts identify clinical services where the costs for delivery are high and where clinical outcomes are below those of comparative organisations. We take a three dimensional view of the trust data to examine the dynamics between quality, cost, length of stay and income. By looking at qualitative performance metrics such as mortality, clinical complications and readmissions, we are able to get a detailed understanding of the links between operating costs and quality of care.
Benefits
This gives trusts a comprehensive review of cost variation against quality metrics, looking at the value of services provided. Trusts will gain the evidence base and insight needed to help:
