MedTech Value Framework
AdvaMed launched a Strategic Value Initiative to develop an approach and principles for assessing the value of medical technologies that can be adopted by health systems, payers, medtech companies, and other stakeholders.
The health care ecosystem is in the midst of a major shift from volume-based, fee-for-service systems to value-based care models. These payment reforms shift risk from payers to providers, with the dual goals of reducing the per-capita cost of health care and improving the patient experience, including quality of health outcomes and patient satisfaction.
In response to this evolving marketplace, AdvaMed launched a Strategic Value Initiative, in collaboration with Deloitte Consulting LLP, to develop principles and an approach for assessing the value of medical technologies that can be adopted by medtech companies, health systems, payers, and other stakeholders. The viewpoints of multiple stakeholders from outside the medtech industry were incorporated into the process of developing the approach, with the overall goal of encouraging the adoption of proposed principles and supporting practices into existing frameworks and assessment models as they evolve over time.