Concern over rising U.S. health care costs in recent years has increased interest in promoting high-quality care, while avoiding low value or inefficient care. In response, a number of initiatives aiming to drive value in health care have emerged, but few offer transformative solutions that reflect patient preferences and real-world clinical practice.
The PhRMA Foundation has launched a major initiative to address this situation, supporting the research and innovation that is critically needed if the United States is to make a successful transition to a value-based health care system.
To date, we have committed more than $1.4 million in awards for value assessment projects, and we are excited to announce in this edition of PhRMA Foundation News another round of generous funding.
We will support the launch of another Value Assessment Center of Excellence in 2019 (the third to date), as well as individual awards for researchers.
We are also offering another round of Value Assessment Challenge Awards – this year with a focus on personalized medicine. Our partner in this effort will be the Personalized Medicine Coalition.
We recognize that the U.S. health care system is changing rapidly, and we are committed to playing a leadership role in supporting visionary thinkers who have great ideas for tomorrow.
More than 2,400 scientists have benefited from Foundation support since our inception – and many have gone on to make major contributions to scientific advancement. We are confident that our new value assessment award recipients will produce the same level of brilliance and dedication that has been a hallmark of Foundation scholars for more than 50 years.