Abdi A Isaak, MPH:
Value of healthcare delivered are measured by health outcomes achieved per shilling spent on care.
Harvard Business Review says “value is expressed as a ratio: the quality of outcomes (adjusted to account for the severity of a patient’s condition) divided by the cost of treating that condition”.
The review further notes that “Improving value therefore occurs by increasing quality relative to cost.”
In short, improve quality of healthcare at optimal costs that doesn’t jeopardize other cost centers like recurrent expenditures but make costs sustainable for a long period at improved care levels to realize population level desirable health outcomes across life trajectories for all age groups.
Read more here on Harvard Business Review