Open Journal of Business and Management

Volume 12, Issue 1 (January 2024)

ISSN Print: 2329-3284   ISSN Online: 2329-3292

Google-based Impact Factor: 1.13  Citations  

Assessment of Accountable Care Organization Strategies: A Qualitative Approach

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DOI: 10.4236/ojbm.2024.121001    261 Downloads   923 Views  

ABSTRACT

Accountable care organizations (ACOs) are becoming increasingly popular in healthcare in order to improve quality, reduce costs, and enhance patient outcomes. ACOs are an association of hospitals, healthcare providers and insurers who assume financial and medical responsibility for a patient population. In Saudi Arabia, the Ministry of Health (MOH) has been tasked with delivering this strategy as part of “Vision 2030” for the Kingdom of Saudi Arabia. Implementing ACO strategies is a complex process that requires careful planning, collaboration, and effective communication among stakeholders. Healthcare organizations need to establish a comprehensive framework that includes the identification of relevant metrics, the development of care management processes, the integration of technology, and the alignment of incentives. One of the critical challenges in the implementation of ACO strategies is ensuring that all stakeholders are aligned and committed to the goals and objectives of the organization. Effective communication and collaboration are essential to building trust and ensuring everyone works together to achieve the same outcomes. Healthcare organizations need a robust technology infrastructure and skilled data analysts and IT professionals to identify trends and patterns in the data. The research was conducted with a sample of eight senior strategic managers operating in Cluster One’s Riyadh region. The study’s primary aim was to identify the ACO strategies that could potentially enhance the delivery of healthcare services. The identified themes were classified into five categories: 1) The greatest challenges facing healthcare transformation; 2) The priorities that an ACO should concentrate on; 3) The changes in healthcare systems that would yield the greatest benefits for ACOs; 4) How the ACOs contribute to enhancing the cost-effectiveness and quality of healthcare services, as well as addressing the gaps in service quality that exist within current healthcare systems; and 5) Factors and consequences that will motivate the successful implementation of ACO. Implementing the ACO strategies will likely result in various benefits, such as enhanced healthcare quality, financial viability, optimized operational efficiency, and increased patient satisfaction, among other advantages. ACOs can benefit from integrating staff, electronic data, and patient-centered care, improving resource utilization, health management, and providing cost-effective, quality healthcare. Factors such as capitation funding, mega electronic health care, high-level alignment and communication, and value-based compensation can motivate a successful implementation of ACOs. The successful implementation of ACOs requires financial support, culture transparency, and transformation.

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Aljelban, A. , Alerwi, M. , Alenazi, A. , Alsuwaidan, M. and Alsuwaidan, S. (2024) Assessment of Accountable Care Organization Strategies: A Qualitative Approach. Open Journal of Business and Management, 12, 1-17. doi: 10.4236/ojbm.2024.121001.

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