How the value of innovation will be redefined in 2021

That is the title of my article in MedCityNews. I discuss the evolution of value measurement, digital medicine, and the importance of reducing inequality. Below is an excerpt:

While efficacy, safety and cost still form the core of a treatment’s value, how a treatment is administered is now becoming of primary importance in a world with Covid-19. For instance, oral medications may be preferred to those that require infusion; medical procedures that can be performed in outpatient or ambulatory surgical centers will be preferred to those that require an inpatient admission. How treatments can prevent Covid-19 spread relative to the status quo is a vital component to measuring value.
Covid-19 has also highlighted the need to measure treatment value from a societal rather than payer perspective. Traditionally, value assessment organizations, such as the Institute for Clinical and Economic Review (ICER) in the United States and the National Institute for Health and Care Excellence (NICE) in the UK, only measure health benefits and cost from the payer perspective. A treatment’s impact on productivity, caregiver burden, or educational outcomes to date have only infrequently been incorporated into these organization’s definition of value.

Do read the whole article.

from Healthcare Economist https://ift.tt/3nuNrN0