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. The PhRMA Foundation Value Assessment Initiative – a three-part award program – aims to address these challenges.
The PhRMA Foundation seeks 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. We have 3 separate award programs and they are listed below:
To learn about the initiative’s Advisory Committee, click here.