Value is becoming a topic of interest to 3 key players in the healthcare field-patients, payers, and providers. This article examines various value definitions and puts forth a composite value definition incorporating cost, quality, and worth elements. A value triad is created to demonstrate how value can be a linking mechanism between patient, payers and providers. Examples are then provided to assist managers in examining the value associated with payers and patients.
Date Created: 20040515 Date Completed: 20040615 Latest Revision: 20041117