Value Based Healthcare

In an effort to both hold healthcare providers accountable for quality of care and improve individual patient outcomes, policymakers and payers continue to shift towards value-based payment models. As a result, buying decisions will increasingly be made based on publicly available product performance information, profoundly affecting the markets for medical and diagnostic devices. Medical device product developers and manufacturers will be required to adopt robust development programmes that generate detailed data reports on patient outcomes and costs to prove the worth of their product. This will divide the market into two segments:

• Products demonstrating unique patient outcomes, commanding higher margins
• Products that will cut costs without sacrificing performance

Maintaining profitability in a value-based environment requires careful assessment and coordination. Advanced planning for a comprehensive approach during medical device clinical research can enable device developers and manufacturers to overcome such challenges and achieve success in the growing value based care market. Read our white paper, ‘Enhancing Medical Device Development Returns Under Value-Based Care’, to explore how to better inform device development using our model for assessing market potential during medical device clinical trials to ultimately achieve cost savings in healthcare.