As we watched the stock market rise and fall over the last several months I reflect on how we judge the value of products and services. Often that value is impacted by the psychology of investors at any point in time. Over time, however, the market does the best job of defining value with more successful companies and industries rising to the top.
Where does emergency medicine fall in the „value chain‟ of medicine? We have always been thought of as the safety net for society. We are also been judged (fairly and unfairly) to be a high cost area of medicine. Both of these are the truths of our specialty.
As health care changes both of these points will come under scrutiny. As we know the possession of an insurance card does not mean access to primary care. Society has also decided that paying several hundred dollars for routine care that may be handled in a less intensive setting must change. How do we reconcile these two realities? By focusing clearly on value.
Value in emergency medicine (and medicine in general) must be defined by meeting the following criteria:
The above must be our focus if EM is to succeed in the future of healthcare.
So what does this mean for MEP? As you have witnessed over the last year our focus has been on efficiency; evaluating patients quickly and making dispositions in a timely manner. In the next few months we will continue to roll out our utilization-monitoring program and expect robust discussions once the data are presented. The expansion of WebQI and our ongoing exceptional peer review program reinforces our commitment to continually raising the bar for quality.
There is much work to be done in adding value to medicine. While we will continue to respect the art of medicine we must find ways to leverage the science (and technology) to our patient‟s benefit. In many ways it is an extension of the work we have done in making MEP an exceptional provider and partner in emergency care. Join us as we help to define the future of emergency medicine together.
Read the entire Summer 2011 Newsletter100% Improvement.
All of our transitioned hospitals have dramatic increases in profitability due to our expertise and results-driven approach.
Web QI Innovation
MEP has developed Web QI, a unique online tool used by providers to offer feedback to each other about quality and efficiency of care.