What I Learned
I learned that PHM is in theory effective in managing costs only if an established framework is utilized. This framework needs to reduce estimates of health care costs individuals are assigned. The PHM theory is also difficult to manage costs initially when so many chronic conditions are apparent in today's society. As time passes and the public is being educated and assisted in managing their conditions the costs should come down. This is the difficulty in PMH and the public at large.
Siu Bong Wan
Module 3 Nur 701
A Method for Estimating Cost
Savings for Population Health Management Programs
Shannon Murphy, John McGready,
Michael Griswold, Martha Sylvia
Health Services Research April
2013, Vol. 48 Issue 2pt1, p 582-602.
Murphy, S. E., McGready, J., Griswold, M. E., & Sylvia, M. L. (2013).
A Method for Estimating Cost Savings for Population Health Management Programs.
Health Services Research, 48(2pt1), 582-602.
doi:10.1111/j.1475-6773.2012.01457.x
Why was this
article, blog, post, or multimedia chosen?
This article explains an experimental method
that reduces the sources of loss finances in Population Health Management
Programs. As health care costs rise,
corporations and employers are looking for methods to reduce health care costs
for their employees. This is especially
apparent for those with chronic conditions.
There have been several studies that range from weak research to
significant randomized techniques yield less than significant cost
savings.
What makes it
interesting, appropriate, or reputable?
The article is interesting because it examines
what makes Population Health Management (PHM) cost effective and detects the
methods of significant cost savings. The
future of health care is aimed at managing costs and mitigating overages. The theory behind PHM is reducing costs but
it has to be truly proven. It is
suggested but not always profoundly possible to experience significant
Is it an opinion?
Case study? Research study? Product review?
Research
study that examines services of PHM programs in place from 2003 to 2005. This research study calculated and compared
measures that were in place for thousands of people. This study measures the participants cost and
savings and how statistically not significant programs and services differ in
price. The study examined two groups
that even over time minimal reductions in costs were established.
What was the need,
problem, issue or trend addressed in the article, blog, post, or multimedia?
The problem being addressed is establishing a
framework that analyzes PHM expenditures for employers and companies. The estimates need to be more accurate,
analyzed deeper for specific processes that reduce costs. The main culprit is ineffective measurement
of estimates for health care costs, and chronic conditions not correctly managed
by personnel.
What was the
solution for which technology had an answer?
The quasi-experimental experiment recommended
more confident investment decisions through PHM framework. The utilization of services geared toward
chronic condition clients and effective PHM services that aim to prevent
illnesses before they become chronic are especially significant. A large problem is ineffective cost estimates
for services rendered in the PHM. These ineffective
estimates prove difficult in mitigating costs because the data is skewed.
What implications
might this have in health care delivery?
This could prove significant in health care
delivery by providing cost mitigating endeavors to PHM. This is especially important in managing
chronic conditions intelligently to reduce health care costs. The cost of controlling chronic conditions
helps manage one of the most expensive elements of health care. PHM is about being preventative in the care
of patients. This is important in
controlling health care costs for obesity, asthma, diabetes, chronic conditions
that are easily managed and sometimes preventable but cost the health care
industry millions of dollars a year.
What did you learn
from it that might have application for your practice?
PHM is an
element being more closely examined to help with the future of health care. The cost of health care is growing
exponentially out of control. In my
practice, I currently see the exacerbations of chronic conditions that are
poorly managed. The patients state they
are non compliant and often uneducated about the management of their chronic
condition. If I were to enter the PHM
field, education and preventative measures are significantly important in
mitigating costs. I can hope to educated
patients and help schedule them for follow up appointments. This is important for patients that are more
non-compliant or unmotivated to manage their care.
Hi Adam,
ReplyDeleteVery interesting article that you chose! I noticed that population health management (PHM) programs are “popping” up all over, including from within my own organization. Looking for methods to reduce costs is something healthcare administrators will never lose sight of. Today this is a priority because healthcare organizations are trying to incorporate health management information systems (HMIS) into their budgets. I have seen this first hand being on the EMR team. For example, incentive payments earned from the meaningful use requirements factor into a cost-benefit analysis, because the long-term benefits such as health prevention and decreased morbidity are difficult to quantify in terms of saving money. Hopefully, PHM programs will make a difference in the health of many Americans, while saving costs at the same time!
This article has opened my eyes to PHM programs, which may not be all they say they are. The programs are unproven and may not significantly reduce medical costs as previously mentioned. It seems that considerably more research must be utilized to really explore the benefits. This PHM program seems like a good idea but in the long run we cannot know for sure.
DeleteThis is certainly a hot topic in healthcare currently with the introduction of the Patient Protection and the Affordable Care Act (PPACA) and other Obamacare initiatives. The United States spends the most on healthcare costs at $8,233.00 per person yearly according to Kane, (2012). Although we feel we have the best medical care on earth, statistically that is not true for many instances. We however do have the highest five-year survival rate for breast cancer and the best research and development programs. With our expenses more than two-and-a-half times more than most developed nations in the world, (Kane, 2012, para. 3) we definitely need to make some changes. It is a positive thought Adam that they are trying to use research and evidence based practice to make these financial changes and that they compared the participants costs and savings and their statistical difference. Using a research study to calculate the importance adds credibility to the results when obtained especially if the p value is significant.
ReplyDeleteReference
Kane, J. (2012, October 22). Health costs: How the U.S.
compares with other countries. Retrieved from
http://www.pbs.org/newshour/rundown/2012/10/health- costs-how-the-us-compares-with-other-countries.html
The costs here versus other countries is astronomical. I fear that not enough studies are performed yet on PHM and how effective it will be on reducing healthcare costs. There is a lot that should have been done and research that should be available by now on how effective this kind of healthcare is. The changes are fast approaching and initiatives have been underway for a long time. I worry that in the near future these programs will cost us more money and not have the impact we so desired.
Delete