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ISSN: 1649-3877

Listed by: Cabells and EBSCO

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Value Creation in Healthcare: The Case of the Centre Hospitalier Princesse Grace (CHPG) in Monaco

JSME Vol 6: Issue 2, 2010

Author(s): Ingo Böbel and Amrita Martis (International University of Monaco)

Abstract:
Healthcare has to make transitions to be truly effective in the modern world. A change in paradigm is needed. This requires that value – defined as the health outcome for a particular medical condition per unit of cost expended – must be applied and added to healthcare, and healthcare itself must be treated as a (strategic) “business” that performs in a competitive environment to ultimately provide client or customer satisfaction. We argue – following Porter and Teisberg – that healthcare should be patient-centric and that organization and treatment should be planned accordingly. We examine whether such principles are currently being applied in Monaco (specifically in the Centre Hospitalier Princesse Grace) taking into account both Monaco’s unique positioning and its geographical context in relation to the French health system as well as the resulting interaction in networking relationships. Finally, we offer a set of recommendations that in the context of the local situation might be successfully applied.

Keywords: Health; healthcare; value creation; managed care; hospitals; Monaco.

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