Mark E. Lutes, Chair of the Firm’s Board of Directors and Member of the Firm in the Health Care & Life Sciences practice, in the firm’s Washington, DC, office, co-authored the whitepaper, “From the Field—Bringing Value to Health Care,” published in the Journal of Clinical Pathways.
Following is an excerpt:
In early 2023, a group of health care professionals with diverse backgrounds met in Aspen, Colorado, and shared their perspectives on how to improve health care to deliver consistent high-quality care and outcomes, reduce unnecessary costs, and make care more affordable and accessible.
The health care expenditure clock in the US consumes on average $12 billion each day, with $4.3 trillion expended at year end, which is 19.7% of our gross domestic product (GDP). It is widely accepted that 10%-20% of this expenditure does not improve health care outcomes,1 yet there remains no consensus on how to prevent “wasting” $1.075 trillion and how to put that 5% of our nation’s GDP to better use.
Health care payment methodology—particularly fee for service (FFS), which pays for care in individual units of service—has resulted in fragmented, disconnected units of care and costs that are unsustainable. The data shared under the FFS methodology is limited to only the care rendered by a specific provider, leaving providers to care for their patients without the benefit of understanding what other care those patients may be receiving to improve outcomes and reduce total cost of care.
This white paper shares discussions from the Healthcare Innovations Summit on how to enable and scale value-based care in the US.
People
Chair—Board of Directors / Member of the Firm
