“Value in healthcare is measured in terms of the patient outcomes achieved per dollars spent,” said Guest Editor Joshua P. Cohen, PhD, an independent consultant based in Boston, MA.“As such, when payers and policy makers measure the output of healthcare systems, it is not the volume of services delivered that matters, but rather the outcomes. Considering this, there has been an uptick in interest in value—or outcomes-based contracts. Nevertheless, in the United States there has been more talk than actual implementation of biopharmaceutical value-based contracts. In this themed section of Value in Health, 4 contributors provide balanced and sobering perspectives on value-based contracting and what the future may hold for risk-sharing arrangements.”
In his introductory editorial, “Is There a Future for Value-Based Contracting?,” Dr Cohen provides a historical perspective and introduces the other 4 articles in the series:
- “Are Value-Based Arrangements the Answer We’ve Been Waiting for?,” by Robert W. Dubois, Kimberly Westrich, and Lisabeth Buelt
- “Pharmaceutical Products and Their Value: Lessons Learned and the Path Ahead,” by Anna Kaltenboeck
- “Managed Entry Agreements: Policy Analysis From the European Perspective,” by Monique Dabbous, Lylia Chachoua, Aleksandra Caban, and Mondher Toumi
- “Using Data From Routine Care to Estimate the Effectiveness and Potential Limitations of Outcomes-Based Contracts for Diabetes Medications,” by Michael Fralick, Joshua J. Gagne, Elisabetta Patorno, Raisa Levin, and Aaron S. Kesselheim
“Ultimately,” said Cohen, “better alignment of price and value of health technologies and medical services is the key objective of any healthcare system. This can be achieved through multiple means, including value-based arrangements; however, the scope of value-based arrangements is relatively narrow and the logistical hurdles, including data collection and reaching consensus on the terminology surrounding value across stakeholders, remain formidable.”
ISPOR, the professional society for health economics and outcomes research (HEOR), is an international, multistakeholder, nonprofit dedicated to advancing HEOR excellence to improve decision making for health globally. The Society is the leading source for scientific conferences, peer-reviewed and MEDLINE®-indexed publications, good practices guidance, education, collaboration, and tools/resources in the field.
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ABOUT VALUE IN HEALTH
Value in Health (ISSN 1098-3015) is an international, indexed journal that publishes original research and health policy articles that advance the field of health economics and outcomes research to help healthcare leaders make evidence-based decisions. The journal’s 2018 impact factor score is 5.037. Value in Health is ranked 5th of 98 journals in healthcare sciences and services, 4th of 81 journals in health policy and services, and 11th of 363 journals in economics. Value in Health is a monthly publication that circulates to more than 10,000 readers around the world.
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