Improving Healthcare Value Through Price Transparency
A Common Standard for the Common Good
The Basic Idea
We are embarking on a new initiative to create, disseminate, and maintain a set of resources in the public domain that will facilitate efforts by stakeholders to improve the efficiency and value of the healthcare system and its components through greater transparency. We will make available clinical specifications and supporting documents sufficient to organize or “group” administrative data into clinically meaningful episodes of care. A valid episode framework that describes the contexts in which clinicians and patients interact can make possible actionable information for clinicians, payers, purchasers, consumers and other care-seekers, and other stakeholders aiming to make sense of service patterns, cost, and efficiency.
With the logic and specifications for episodes available in the public domain, there will be full transparency and opportunities to provide input. There will be a standard framework that interested parties can use to measure cost, set benchmarks, align quality metrics, and optimize value within and across systems and regions. Agencies, organizations, and individuals can benefit from and contribute to the common resources. Working together with interested stakeholders, we can divide the burden and multiply the benefits.Want to Support the Effort?