Defining Value in “Value-based Healthcare”

The Commission has set up a multidisciplinary and independent Expert Panel which provides advice on effective ways of investing in health. This report proposes a definition for value in a healthcare context based on four pillars of value, personal, technical, allocative and societal. It also includes propositions and guiding values for the implementation of Value Based Healthcare (VBHC) in a European context, as a way to support the sustainability of health systems and increase the standards of care.