May 21, 2010, Newsletter Issue #31: 1. Where Do You Spend Your Resources?

Tip of the Week

We make value-based decisions on where to spend our resources every day.

Value-based health decisions are not such a hard concept. Every day we make decisions that are based on value: is the taste of the orange juice that is on sale valuable to my family? Are these running shoes better for my exercise and worth the price? Which car will deliver more miles per gallon, AND does it come in the color I want?
Value-based decisions consider the variables that are important to us at any one time. Thatís why itís not just about the price of the orange juice, but also about the taste; itís not just about the running shoes, but what they will add to my workout; and itís not just about the miles per gallon, but I really want a red car.
Each of us intuitively makes many value-based decisions every day. But we donít recognize them as imperative in our health management.
Yet they are very important, because if we understand all the factors that go into our decision-making, then we can improve the effect our decisions have. In other words, if we recognize that part of our decision on treatment involves how far we have to travel to get the treatment, or the hospital with the best outcomes for the procedure we need to have, or many other variables that influence our decisions, then we can prioritize.

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