Value-Based Supply: Re-imagining Value from Within
A new paper by our expert Affiliated Organisation, the VBHC Academy at Swansea University!
Value-Based Health Care is a very different paradigm of healthcare. After some delay, it is now gaining traction in many health economies across the world. The approach is seen as an enabler of financially sustainable health systems, with better patient and population health outcomes in an increasingly resource limited environment.
MedTech companies that understand and embrace this changed relationship will be able to achieve shared value for themselves and payers; and at the same time, play their part in improving the outcomes that matter most to patients. This approach certainly requires changes by payers and procurement specialists, but it also means significant change for suppliers if they are to succeed. This requires greater discussion.
Whilst acknowledging that there are many actors and capabilities required to achieve Value-Based Health Care, much less has been said or written about the requirements and barriers for a supplier to enter partnerships as part of their strategic approach.
The VBHC Academy will explore this further in a short series of white papers over the next 12 months, to improve understanding and encourage a lively debate, in the expectation that this will help pave the way to more effective participation by industry. Three main themes have been identified which are needed to succeed in partnering with health systems:
- Supplier culture
- Supplier behaviours
- Technical innovation
These themes fall into one overarching concept: Value-based Supply.
Read the full paper here