The U.S. health care system is increasingly placing a premium on value, as cost containment pressures and the demand for quality patient care continue to grow. Determining how value is assessed in this changing system will be the crucial challenge if medical innovation and progress – and the patient and societal benefits they generate – are to continue.
AdvaMed’s Value Initiative is designed to provide stakeholders across the health care spectrum – patients, providers, payers, innovators etc. – with tools to objectively determine the value of a medical technology or diagnostic test and the evidence needed to support its use.
Key to this Initiative are two “Value Frameworks”: one for medical technology (“A Framework for Comprehensive Assessment of Medical Technologies: Defining Value in the New Health Care Ecosystem”) and the other designed specifically for diagnostic tests (“A Framework for Comprehensive Assessment of the Value of Diagnostic Tests”).
Developed in collaboration with Deloitte Consulting LLP, these frameworks provide a comprehensive approach for assessing the value of a specific medical technology or diagnostic test based on four key “value drivers”: clinical impact, non-clinical patient impact, care delivery revenue and cost impact and patient/population impact.
These frameworks encourage each stakeholder to view value and medical technologies and diagnostic tests from a broad perspective. They are also intended to be a guide to the kinds of evidence that technology developers should consider generating to demonstrate the impact of a technology to other stakeholders. The frameworks are not designed as a “one-size-fits-all” or a “formula” approach but are intended to be flexible, promoting the understanding that technologies will offer value in different ways under the frameworks’ value drivers.
AdvaMed has also created additional tools and resources to help use and better understand the frameworks including multiple “use case” examples of how the value frameworks can be applied and a guide on appropriate evidence types for medical technologies. The use cases have been developed as a way to directly demonstrate the application of the AdvaMed/ AdvaMedDx value frameworks to the featured technologies or tests and should not be construed as an endorsement or promotion thereof.
AdvaMed members can visit the Value Framework Toolkit.
Medtech and Diagnostics Frameworks