Navigating the Challenges and Opportunities of Value Based Healthcare
Explore how to better inform device development and maintain profitability under 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 healthcare (VBHC) 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. Device 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:
Maintaining profitability in a value-based environment requires careful assessment and coordination. Advanced planning for a comprehensive approach can enable device developers and manufacturers to overcome such challenges and achieve success in the growing VBHC market.