The Institute continues to push forward and promote costing and value-based healthcare. This is supported by Institute-led projects which aim to challenge current practices and the existing culture.
These Institute-led projects are:
The Costing Revolution workstream
This workstream aims to improve collaboration with the wider finance and non-finance function on the importance of costing, how costing has changed and their role in costing.
Best Possible Value (BPV) Decision framework
The framework is a set of tools which help NHS organisations to work through a decision or project using value (measured as outcomes over costs) as the main driver.
Engagement Value Outcome (EVO) framework
EVO facilitates the engagement of a multidisciplinary team in the understanding and use of patient-level information and costs at specialty level, interpreting the available data and identifying opportunities to reduce unwarranted variation and drive improvements.
Value Challenge projects
The first value challenge project supported three acute trusts to compare cost and outcome data for cohorts of patients in diabetes and fractured neck of femur pathways. Our second value challenge project is underway, examining how PLICS data can support the implementation of Getting it Right First Time (GIRFT)
“We really have to look at what we are doing and see how we can get the best out of our systems to deliver value for the patient in terms of outcomes and in the most cost-effective way.”
The Institute works with its members, partners and associates to learn from and share good practice in the UK and internationally. We are always looking for new ideas and opportunities to ensure that we are at the cutting edge of costing and value.