University of Utah Health undertook the Value in Health Care Survey to help clarify how three key stakeholder groups perceive value as a concept and how they prioritize the three components of our value equation—quality, service, and cost. In doing so, we hope to reinvigorate the national conversation on achieving a value-focused health care delivery system.

For University of Utah Health, value is defined as the key element in a specific theoretical framework: Value is the product of the quality of care plus the patient experience at a given cost. We have translated it into an equation that can be used as the starting place for calculations of “value.”

In this equation, value is a composite of the shifting relationship between levels of quality, service, and cost in the provision of health care. Adapted from a concept first proposed by Harvard Business School’s Michael Porter, University of Utah Health created a value equation to help our organization and other health care delivery systems reward caregivers for
providing the right care, versus simply more care. Service was added to Porter’s equation to give the patient an equal voice in determining value.

We believe this value equation can build a shared understanding of how major stakeholders define, weigh, and calculate value. This equation formed the basis for the line of questioning in the Survey, and we believe it will help move the system toward better value for all stakeholders.

Initial Findings

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