Delivering medical innovation in a value-based world
Health care thought leaders share fresh insights
Discover the implications for medical innovation as the health care industry transitions to value-based care. Biopharma, medtech, health plans, and provider executives suggest four changes that could encourage innovation as value-based care takes root and evolves.
Implications for medical innovation
Watch the authors of this study discuss the implications for medical innovation as the health care industry transitions to value-based care.
Leaders discuss medical innovation
The Deloitte Center for Health Solutions and the Network for Excellence in Health Innovation (NEHI) convened 21 leaders across the health care system including life sciences companies, health plans, providers, academics, non-profits, and patient groups in fall 2015 to discuss how VBC influences innovation, how current VBC models could evolve to encourage innovation, and the strategic considerations for biopharma and medical technology (medtech) companies. Meeting participants pointed out that ongoing cross-stakeholder dialogue is critical to ensure that valuable medical innovations continue to reach patients as VBC models take root and evolve.
Four solutions that could promote the goal of innovation under VBC
Adoption of a broader set of quality measures
- Clinical quality measures tied to long-term clinical outcomes in new payment models
- Collaboration with patient advocacy groups to expedite development of patient-centered measures
Improved data availability, transparency, and integration
- Cross-stakeholder data-sharing partnerships, including creation of patient registries
- Clarification on requirements for generating and communicating economic evidence
Redefinition and identification of unmet and under-met needs
- Life sciences companies as partners in care delivery, with refocused R&D efforts aimed at not only delivering strong science, but also improving clinical processes and financial goals
- Integrated products and services to fulfill unmet and under-met needs
Shared financial risk between life sciences companies and their product purchasers
- Adoption of value-based purchasing agreements with private health plans or providers to allow early adoption of innovation
- Increased alignment across decision-makers including physicians, purchasers, and health plans on criteria to evaluate innovative products