As technology becomes more and more pervasive, we are seeing an increased integration of mobile devices, sensors, applications and other data feeds into everyday life. With this comes an upsurge in the amount of data being collected and stored. Today’s C-level executives are facing unprecedented business demands. These range from operating in more countries, dealing with new regulations and increasing government oversight, to complex tax policies, cost reduction, increasing risks and customer centricity. This complexity is further compounded by complex systems and data management.
KPMG conducted a study which analyses the failures of the most common payment systems within healthcare globally, ranging from fee-for-service and block grants to the current attempts to pay for performance. The report explores the importance of paying for outcomes rather than activities; paying for value and not just reimbursing costs. Policy-makers across the world are rethinking payment mechanisms to instead reward value: high-quality, efficient care. ‘Value’ is a key term in the current crisis in healthcare globally, emphasizing that our problems in containing costs are just as crucial to tackle as our problems in capturing and ensuring quality.