Value-based procurement: Canada's healthcare imperative

Area of Science:

• Healthcare Management
• Health Economics
• Public Health Policy

Background:

• Global adoption of value-based healthcare models aims to optimize patient value.
• Procurement is central to achieving value in healthcare purchasing.
• Traditional procurement focuses on short-term savings, hindering holistic value.

Purpose of the Study:

• To provide an overview of value within healthcare systems.
• To examine the implementation of value-based procurement in healthcare.
• To highlight successful strategies in leading jurisdictions.

Main Methods:

• Literature review of value-based healthcare and procurement principles.
• Analysis of case studies from various global jurisdictions.
• Synthesis of findings on shifting procurement objectives.

Main Results:

• Value-based procurement shifts focus to health system performance and patient outcomes.
• Emphasis is placed on longer-term cost efficiencies and supplier collaboration.
• Innovative product and service development is encouraged.

Conclusions:

• Value-based procurement is integral to successful value-based healthcare.
• Adoption requires a strategic shift from cost-centric to value-centric approaches.
• Leading jurisdictions demonstrate the efficacy of this model in enhancing healthcare value.