Value Framework Toolkit
The AdvaMed Value Framework Toolkit is an online resource for AdvaMed member companies to comprehensively assess the value of a new technology and the evidence needed to support its use.
Continuing our collaboration with Deloitte Consulting LLP, AdvaMed is providing the Value Framework Toolkit for member companies to apply the Value Frameworks to new technologies. On completion, companies will be able to identify the different aspects of the value of a new technology for key stakeholders and assess the current evidence and evidence needs for these value drivers. As a result, this will help companies more clearly prioritize resources for product and clinical development and refine the communication of their value proposition.
In response to the growing need to demonstrate how medical technologies fit in to the emerging value-based paradigm for providers, payers, and patients, AdvaMed approved a 2016 Strategic Value Initiative, in collaboration with Deloitte Consulting LLP, to develop an approach to value assessment for medical technologies that can be used by medtech companies as well as by health systems, payers, and other stakeholders. This initiative produced 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”).
For more information, please contact Patrick Brennan ([email protected]) at AdvaMed.
Additionally, for more information on Deloitte Consulting LLP, please contact Glenn Snyder, Principal, Medtech Practice Leader: [email protected].