, Volume 470, Issue 4, pp 1004-1005
Date: 03 Feb 2012

Value-Based Healthcare and Orthopaedic Surgery: Editorial Comment

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Most stakeholders agree that uncontrollable healthcare inflation poses a major threat to the health and economic welfare of many Western societies. The long-term viability of healthcare delivery systems is dependent on the ability to bend the cost curve by decreasing the rate of healthcare inflation. However, cost containment measures alone will not solve our problems. As in other sectors of the economy, a focus on value is the key to an effective and sustainable healthcare system.Fig. 1

Kevin J. Bozic MD, MBA, is shown.
Fig. 2
James G. Wright MD, MPH, FRCSC, is shown.

How value should be measured in health care is controversial. Most experts agree that value can be broadly defined as the ratio of the benefits derived from healthcare services over the costs associated with the delivery of those services. Benefits should include the quality of care (eg, patient outcomes), as well as the service (eg, patient experience). Costs include the direct medical costs associated with the delivery of