Understanding total cost of care (TCOC) is crucial because it allows providers to gauge the financial impact of healthcare interventions and evaluate the efficiency of operations under a value-based construct. By analyzing the cost of care, leaders and clinicians gain valuable insights that enable them to make informed decisions aimed at lowering costs without compromising quality and to directly link it to performance in a value-based contract. The session will explore the importance of careful resource allocation, utilization management and waste reduction, as well as the role of value-based care models, such as Medicare Advantage and accountable care organizations, in promoting cost-effective care delivery. Attendees will gain a comprehensive understanding of the total cost of care and its implications for healthcare decision-making, equipped with practical insights and strategies to drive down costs while ensuring high-quality, patient-centered care.
Learning Objectives:
Distinguish total cost of care and its importance in a healthcare provider setting and aligned business models
Analyze the cost of care to help drive decisions that lower cost while maintaining or improving quality
Prepare tactics that address the total cost of care agnostic of population
.jpg "Chris Windham, MD (he/him/his) photo")