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Measuring Value in Health Care: A Comparative Analysis of Value-based Frameworks
Paola Roberta Boscolo1, Giuditta Callea1, Oriana Ciani1
1Cergas, SDA Bocconi School of Management, Milan, Italy.
Clinical Therapeutics
|December 29, 2019
Summary
Value-based frameworks (VBFs) in the US and Europe for drugs and devices show varied objectives. A paradigm shift to value-based care requires systematic VBF use and stakeholder collaboration.
Area of Science:
- Health Economics
- Health Services Research
- Pharmaceutical Policy
Background:
- Value-based frameworks (VBFs) are increasingly developed in the US and Europe for drugs and medical devices.
- Existing studies often lack a focus on the strategic objectives and institutional roles driving VBF development.
Purpose of the Study:
- To conduct a comparative analysis of VBFs in the US and Europe for drugs and medical devices.
- To examine the roles and strategic objectives of institutions involved in VBF development and value-based initiatives.
Main Methods:
- Comprehensive literature review to identify relevant dimensions and VBFs.
- Detailed analysis of 7 selected VBFs, focusing on institutional actors and their objectives.
Main Results:
- Identified 7 VBFs with distinct conceptions of value and strategic objectives (clinical decision-making, policy, reimbursement, pricing, industry development).
- Different VBFs assign key responsibilities to various healthcare stakeholders, including professionals, patients, policymakers, payers, and industry.
Conclusions:
- The proliferation of VBFs is valuable but insufficient for a paradigm shift to value-based care.
- Systematic implementation of VBFs and coordinated actions among all stakeholders are crucial for achieving value-based care.
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