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Finance transformation for healthcare: A structured model

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  • Tan, Harold

    (National Healthcare Group, Singapore)

Abstract

With rising healthcare costs, payers are transforming the way they pay healthcare providers. Currently, there is much interest in value-based financing and accountable care models. Finance transformation in healthcare, however, goes beyond changing funding models. The way funds flow to providers and the way patients share healthcare costs also need to be transformed to ensure an overall sustainable value-based financing system. A structured model of finance transformation in healthcare is proposed in this paper, supported by evidential review, which discusses several fundamental and critical factors affecting finance transformation and explores some strategies that could help sustain the new financing models. Hopefully, this model can serve as a useful guide to healthcare systems embarking on finance transformation for long-term cost sustainability.

Suggested Citation

  • Tan, Harold, 2019. "Finance transformation for healthcare: A structured model," Management in Healthcare: A Peer-Reviewed Journal, Henry Stewart Publications, vol. 4(2), pages 102-122, December.
    • Handle: RePEc:aza:mih000:y:2019:v:4:i:2:p:102-122
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    More about this item

    Keywords

    healthcare cost; finance transformation; funding model; sustainability; value-based; cost sharing;
    All these keywords.

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • I10 - Health, Education, and Welfare - - Health - - - General

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