Value

Baldrige Health Care Glossary

Value

The term “value” refers to the perceived worth of a product, service, process, asset, or function relative to cost and to possible alternatives.

Organizations frequently use value considerations to determine the benefits of various options relative to their costs, such as the value of various product and service combinations to patients and other customers. Organizations need to understand what different stakeholder groups value and then deliver value to each group. This frequently requires balancing value for customers and other stakeholders, such as patients, third-party payors, investors, your workforce, and the community.

Note: Blue words above are hyperlinks to other integrated Glossary terms.

Return to: Baldrige Health Care Glossary

Thank you for using the only truly integrated Baldrige Glossary available anywhere.  Paul Steel

The 2012 Baldrige Criteria are here . . . and this is the only place where you can see all the changes highlighted word-by-word

2011 Baldrige Criteria                        Baldrige Health Care Criteria                        Baldrige Education Criteria

 

BALDRIGE TOTAL EXCELLENCE NAVIGATOR (B10) - access to everything Baldrige from one source

Baldrige Navigator

B21 MISSION: Accelerate the overall rate of organizational improvement and cost reduction beyond the capabilities of current Business Excellence approaches. Paul Steel