17.5% of the nation’s Gross Domestic Product.
$3.0 trillion dollars in 2014 – that’s the startling, unsustainable reality of healthcare spending in the U.S.1
I believe we have come to a national reckoning of sorts, where people understand change is inevitable. We have to do better. To that end, population health management (PHM) is one of the primary strategies for achieving greater value in healthcare.
At Philips we define population health management as, “The organization of and accountability for the health and healthcare needs of defined groups of people utilizing proactive strategies and interventions that are coordinated, engaging, clinically meaningful, cost effective, and safe.”
PHM suggests a paradigm shift. Triggered by industry’s move to value-based reimbursements, it emphasizes a ‘health’ delivery model as opposed to a ‘care’ delivery model. This demands a significant departure from the way care is delivered today – a position where you’ll be asked to take on risk for behaviors that happen outside of your current domain or influence.
At Philips, our approach is ‘Continuous Health’ – a way to better analyze, manage, and account for the health of individuals and populations across the health continuum.
