Redefining Health Care: Creating Value-Based Competition on Results

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The U.S. health care system is in crisis. At stake are the quality of care for millions of Americans and the financial well-being of individuals and employers squeezed by skyrocketing premiums--not to mention the stability of state and federal government budgets. In Redefining Health Care, internationally renowned strategy expert Michael E. Porter and innovation expert Elizabeth Olmsted Teisberg reveal the underlying--and largely overlooked--causes of the problem and provide a powerful prescription for change. The authors argue that participants in the health care system have competed to shift costs, accumulate bargaining power, and restrict services rather than create value for patients. This zero-sum competition takes place at the wrong level--among health plans, networks, and hospitals--rather than where it matters most: in the diagnosis, treatment, and prevention of specific health conditions. Redefining Health Care lays out a breakthrough framework for redefining health care competition based on patient value. With specific recommendations for hospitals, doctors, health plans, employers, and policy makers, this book shows how to move to a positive-sum competition that will unleash stunning improvements in quality and efficiency. About The Author Michael E. Porter (Shortlisted: 2011 Strategy Award) (Winner: 2005 Thinkers50) is the Bishop William Lawrence University Professor at Harvard Business School, and one of the most influential management thinkers of his generation. Porter is considered by many to be the father of modern corporate strategy. Porter’s Five Forces Framework is taught in every business school in the world. The author of 18 books and over 125 articles, Porter co-founded the Monitor Group in 1983. Many of Porter's ideas have entered mainstream management practice. His seminal Harvard Business Review article “How Competitive Forces Shape Strategy,” (March/April 1979) introduced the Five Forces model for analyzing competitive position in an industry. His first widely read book Competitive Strategy, which followed soon after the 1979 article, is now in its 63rd imprint. From investigating corporate competition, Porter moved on to examine competition between nations in his book The Competitive Advantage of Nations (1990). He arrived at the Diamond Framework for National Competitive Advantage as a tool to help explain why some nations achieve greater productivity and higher standards of living than others. Since 2001, Porter has devoted considerable attention to competition in the health care system, with a focus on improving health care delivery. His work with Professor Elizabeth Teisberg, including the book Redefining Health Care (2006), is influencing thinking and practice not only in the United States but numerous other countries. More recently, Porter has examined the interaction between competition and society. In particular, he has explored the relationship between competition and environmental sustainability, and competitive advantage and corporate social responsibility, and proposed the concept of shared value, arguing that firms should generate value for society as well as shareholders. He has received six McKinsey Awards for the best Harvard Business Review article of the year.