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Figuring out how to measure value

Unlike some other organizations, [the Innovation and Value Initiative (IVI)] is not interested in a top-down, bureaucratic process for setting prices or measuring value, says Shafrin. Rather, IVI aims to disseminate best practices for measuring value and reimbursing treatments based on this value. “We are looking at balancing innovation and value,” he says. “Some people are really focused on innovation. ‘We really need new technologies.’ But at same time, there has to be high value. So how do we get these two sides to talk to each other?

“There’s general agreement that we want new technology. But we need to be able to afford it. It needs to be of high value. How do we measure that, and how do we pay for it?

“We can help further that conversation.”

From my Executive Interview on “Measuring Value” in the December 2016 edition of the Journal of Healthcare Contracting.

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