Academic journal article Australian Health Review

Redefining Health Care: Creating Value-Based Competition on Results

Academic journal article Australian Health Review

Redefining Health Care: Creating Value-Based Competition on Results

Article excerpt

Redefining health care: creating value-based competition on results Porter ME and Teisberg EO Harvard Business School Press, 2006 ISBN: 1 5913 9778 2. RRP: $55, xvii + 506 pages

THIS BOOK PROVIDES readers with a salient insight into the failings of the United States health care system. The authors, who come from strategy and innovation backgrounds, provide an interesting plan and argument for revitalising the US health care system through value-based competition.

The first three chapters provide excellent reading on health reform and why there is a crisis in the cost, provision and quality of health care in the US. In chapter four, the authors introduce the reader to the concept of value-based competition. Porter and Teisberg suggest that the current US health care system is based on "zero-sum" competition as the system is contingent on shifting costs, restricting patient choice and services and increasing the bargaining power of insurers. What the authors advocate as an alternative model is "positive-sum" competition based on improving value for customers and the quality of products or services relative to their price. The latter third of the book concentrates on implications for health care providers, health plans, suppliers, consumers and employers. …

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