What is outcome-based project?

Outcome-based project management focuses on key milestones and deliverables, starting with the strategic vision for the project and developing deadlines from there. We recommend applying this method to projects with multiple stakeholders who are all working toward the same goal.

What is value based contracting?

A value-based contract (VBC) is a written contractual arrangement between parties in which the payment for health care goods and services is tied to predetermined, mutually agreed upon terms that are based on clinical circumstances, patient outcomes, and other specified measures of the appropriateness and effectiveness …

What are outcome based services?

Outcome-based pricing is a model which should be looked from a long-term gain perspective. It is not a model but a journey or a change program which needs to be carried by both the service provider and the buyer with a clear win-win mindset.

What is outcome based support?

‘Outcome focused’ means putting the person at the centre, identifying what is important in their life, ensuring that everyone is working together to achieve the same purpose of maximising the person’s independence and quality of life.

What is outcome based service delivery model?

All outcome based model will have the following fundamental characteristics: Business outcome benefiting Customer rather than activities and tasks of service provider. Innovation in process to achieve the outcome — like automation. Use of quantifiable performance standards which are part of agreed outcome.

What is value based contracting Pharma?

Abstract. Value-based pharmaceutical contracts (VBPCs) are performance-based reimbursement agreements between healthcare payers and pharmaceutical manufacturers in which the price, amount, or nature of reimbursement is tied to value-based outcomes.

What is a risk based contract?

Risk-based contracts place more responsibility on the provider, such that providers must provide high-quality patient care while remaining efficient, at a potentially lower cost. Risk-based contracts are generally done through bundled or capitated payment models.

What is outcome based accountability?

Outcome Based Accountability™ (OBA) is a disciplined way of thinking and taking action that service planners and communities can use to design and monitor strategies to improve the lives of children, families and communities and as the basis for commissioning and improving the performance of projects, programmes and …

What are the benefits of delivering outcome based care?

Greater insight into outcomes: by collecting scientific data about patient quality of life after a treatment, we can better determine what constitutes good care. This will also allow patients to be better informed about advantages and disadvantages experienced by others in a similar position.

What is the difference between an outcome-based and outcomes-based contract?

In contrast, in an outcomes-based contract, payment is wholly or partly based on the achievement of outcomes. An outcome is the thing that actually changes for the individual as a result of the service.

Should your organisation move to an outcome-based contracting model?

Moving to an outcome-based contracting model requires a major cultural shift for procurement teams who will be required to hand over a great deal of control to their suppliers. Risk-averse organisations, in particular will struggle with this.

Should suppliers take more risks with outcome-based contracts?

Whilst outcome-based contracts mean suppliers are able to take control, this also means they are taking on additional risk. Suppliers will be wary of this and particularly unwilling to take on risks relating to their customers’ business success.

What if a customer misunderstands outcome-based contracting?

If a customer misunderstands what outcome-based contracting is (and perhaps confuses it with output-based contracting as this statement suggests), the customer’s expectations are already misaligned with the service provider’s and what each party should be committing to. Outcome-based models are by no means new to the sourcing world.