You are a senior manager at a major health care provider in a competitive environment. The CEO of the medical center informs you that the board of directors has asked that monthly reporting not be limited to financial projections and budget-to-actual reports. Rather, the board is becoming concerned with evaluating the medical center’s performance on value. The board still has a fiduciary responsibility to ensure the financial health of the organization, but members are increasingly concerned with the value provided and not just the cost. The CEO asks you to advise her on what she should propose to the board for such monitoring of value. As you draft your recommendations, consider the following questions: 

1.Why might the board of directors want to monitor value?

 2.What indicators would you recommend to the CEO? 

3.How would you gather data and evidence that might suggest an increasing value for cost?

 4.How would you measure success in these value-for-cost efforts?

Answer rating: 100% (QA)

Explanation 1 Value in healthcare is defined as the value of the healthcare services provided and th... View the full answer