Improving Patient Outcomes and Reducing Inefficiency
Concern over rising health care costs has increased interest in promoting high-quality care, while avoiding low value or inefficient care. As the U.S. health care system encourages value-driven decision-making, it is important that information on value of health care interventions be robust, transparent and address the needs of all health care stakeholders, including patients, payers and providers.
A number of initiatives aiming to drive value in health care have emerged in recent years, but few offer transformative solutions that reflect patient preferences and real-world clinical practice. In addition, many issues in methodology and patient engagement remain unresolved.
To address these factors, the the PhRMA Foundation has launched the Value Assessment Initiative — a three-part award program, with total funding of $1 million.
This major initiative is seeking transformative, multi-stakeholder-driven solutions to address challenges in assessing the value of medicines and health care services to improve patient outcomes and reduce inefficiency.
The initiative offers three separate award programs, listed below:
An Advisory Committee has been established to help lead this initiative. To learn about the Advisory Committee, click here.