Measuring the contribution of innovative financial models in hospitals

COCIR has released its new report (PDF) “Managed Services – Innovative Business and Financial Models. Key Performance Indicators targeting EU healthcare sustainability goals”. This sets out a series of Key Performance Indicators (KPIs) offering the potential to measure the performance and impact of Managed Services.

With an ageing population placing increased demand on healthcare services, the positive contribution of financial and business innovative models, such as Managed Services, are of vital importance. Managed Services empower health institutions in implementing the changes and therefore also in enabling patients the access to innovative medical devices. “This report demonstrates that we need to think more broadly about how we finance healthcare and how we perceive innovation.” said Nicole Denjoy, COCIR Secretary General.

Equally importantly, the KPIs identified in the report can provide invaluable data insights into the effectiveness - and cost-effectiveness - of interventions. They offer the potential to measure and assess how Managed Services contribute to improving the overall efficiency of European healthcare delivery.

The COCIR report provides a set of recommendations for EU, national and regional key actors to encourage them to use Managed Services. They can also use the concrete KPIs to measure their effectiveness, as well as helping provide and maintain high quality, sustainable health services across EU countries.

The report also emphasises both the value and the political imperative of incentivising adoption and diffusion of innovative, disruptive business/financial models. It clearly sets out the potential benefits that these disruptive financial constructions such as Managed Services, can bring.

Healthcare industry is increasingly using alternative financial models, sharing the risks between private and public sectors. This allows hospitals to benefit from the latest innovations in healthcare as they become available in a more cost-effective manner.

Nicole Denjoy added; “Following publication of this report, a series of workshops at European and national levels will follow. These aim at building awareness of the potential gains from these new financial models - Managed Services in particular - and how to benefit from funding mechanisms to promote innovations and use financial tools that will ultimately benefit the end user. This will help improve performance of health systems and policies at national and regional levels across the EU countries.”

1. Managed Services are partnerships between healthcare facilities and technology providers. They guarantee sustainable access to the latest healthcare technology and equipment. This partnership model also brings additional value, offering analytical insights and procedural evaluations that can increase efficiencies and improve clinical outcomes.