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 and encourage patient-centered, value-driven care, the PhRMA Foundation launched its Value Assessment Initiative in 2017, a comprehensive effort to progress toward a value-driven health care system. The program is currently supporting four Centers of Excellence in Value Assessment that will identify high- and low-value health services and make recommendations for prioritizing the services that are most valuable to patients.
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.