Advancing Health and Well-being: The Care Economy
Submitted by Essity
Promoting value-based care
The purpose of care in the care economy is to improve health and quality of life for people cared for at a sustainable total cost level. Healthcare systems need to generate value both for individuals and for society at large.
Because of the increased pressure on healthcare systems, it is more important than ever to recognize that the value in healthcare comes from the right combination of quality and cost. If society wants the value of care to remain constant or increase, one must think conceptually about relevant patient outcomes, and how these outcomes can be achieved or improved in the most cost-efficient way.
To address these challenges, the way care is purchased and delivered needs to change. Value Based Healthcare (VBHC) is one way to do this. It is a collaborative, needs-based approach that applies to a variety of patients and spans over payers, providers, the industry, and society, with the goal to achieve better outcomes in a cost-efficient way.
Value-based healthcare (VBHC) requires:
Innovation as an enabler for a better care economy
One example of an area in which innovation is needed is in continuously increasing knowledge among the growing number of family carers. Roughly 80% of care provision comes from family members, and roughly two-thirds of all people globally will become caregivers at some point in their lives.1
Despite these figures, the vast majority of family caregivers have no healthcare related training. In addition, many family carers do not recognize themselves as such and do not seek training or external support even when it is available. Digital solutions can help family carers to keep track of and monitor their care duties, facilitate access to knowledge and training about their roles and rights as carers, and can contribute to positive health outcomes by individualizing care. Leveraging digital tools to support caregivers’ work improves care conditions for the care receiver, alleviates stress and mitigates the negative aspects of caregiving on healthcare systems and economies. Increased societal awareness of family caregiving will make it easier for caregivers to reach out for the support, education, and training available.
Roughly 80% of care provision comes from family members.
Calls for action within the care economy
1Brody, J. E. (2008, November 10). When Families Take Care of Their Own. The New York Times.
Essity is a leading global hygiene and health company that develops, produces and sells Personal Care (Baby Care, Feminine Care, Incontinence Products and Medical Solutions), Consumer Tissue and Professional Hygiene products and solutions.
Our vision is; Dedicated to improving well-being through leading hygiene and health solutions. The name Essity stems from the words essentials and necessities. Sales are conducted in approximately 150 countries under many strong brands, including the leading global brands TENA and Tork, and other brands, such as Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. Essity has about 48,000 employees and net sales in 2017 amounted to approximately 12.8 bn USD (SEK 109bn, EUR 11.3bn). The business operations are based on a sustainable business model with focus on value creation for people and nature.
The company has its headquarters in Stockholm, Sweden, and is listed on Nasdaq Stockholm. Essity used to be part of the SCA Group.
Tork is a brand of Essity. Essity is a leading global hygiene and health company that develops personal care, professional hygiene and consumer tissue products and solutions. Essity offers Tork paper towels, toilet paper, skin care products, facial tissue, wipers, wet wipes, napkins and other hygiene products for washrooms, wash stations, healthcare areas, food and beverage handling, food preparation, manufacturing and maintenance. For more information, visit http://www.torkusa.com/
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