Value is a matter of perspective, and no patient is average. As stakeholders across healthcare struggle with and refine the process of determining value, differing perspectives will trigger fierce debate, with some arguing that cost-effectiveness analysis should never have a place in a value-based health system.
But it would be a mistake to completely disregard the progress we have made with such analysis. Instead, it’s important to identify what makes these models imperfect and work together to improve upon the tools and methods we employ to ultimately find consensus on value assessment.
In short, it’s time for Value Assessment 2.0 in healthcare.