VALUE IMPROVEMENT CONCEPT WITHIN COST EFFECTIVENESS FRAMEWORK: TYPE 2 DIABETES PERSPECTIVES

1Suzana Sulaiman, Nazreen Sahol, Sharifah Fadzlon Abdul Hamid, Norlaila Md Zin, Zairul Nurshazana Zainuddin

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Abstract:

So far there is no basic value improvement within cost effectiveness framework on healthcare provider. Especially, in treating Malaysian Type 2 diabetes patients. The growing of Metabolic Syndrome (MS) has contributed to higher risk and costs in managing Type 2 Diabetes patients in Malaysia. Diabetes patients are exposed to develop serious health complications. It can lead to related diseases affecting heart, eyes, kidneys, nerves and teeth. This opinion paper was based on related literature on cost effectiveness, health industry, value for money and value analysis. It also highlighted on how management accounting gained its relevancy and contribution towards health industry. The developed framework provided the elements and associated costs incurred by both healthcare provider and patients in providing value improvement to both healthcare provider and patients. It emphasizes on the cost effectiveness which is a key component in determining value for money model for Type 2 Diabetes patients. The framework clearly provides the components of cost-effectiveness and 3Es: Economy, Efficiency, Effectiveness.

Keywords:

Cost Effectiveness, Value, Healthcare Provider, Type 2 Diabetes, Framework

Paper Details
Month5
Year2020
Volume24
IssueIssue 10
Pages1959-1968