Quality over quantity, at lower cost
Our healthcare system is fragmented, costly, and inefficient. At Philips, we believe that value-based care models are the answer. In contrast to traditional fee-for-service (FFS) systems, value-based care aims to pay for value rather than volume. This approach incentivizes providers and other stakeholders to improve access to care and health outcomes while reducing the cost of care.
As a result, value-based care encourages quality, safety, a better patient experience and patient empowerment — and it discourages testing and treatment that patients don’t really need.
To create the right support system for value-based care models, we need to focus on partnerships, collaboration and co-creation — which requires an emphasis on interoperability, standardization, and open platforms. Philips is leading the way in turning a healthcare theory into a dynamic, patient-focused reality.