The Deloitte Center for Health Solutions and the Network for Excellence in Health Innovation convened leaders from life sciences companies, health plans, providers, academics, non-profits and patient groups to discuss how value-based care (VBC) influences innovation, how current VBC models could evolve to encourage innovation and the strategic considerations for biopharma and medtech companies. Participants pointed out that ongoing cross-stakeholder dialogue is critical to ensure that innovations continue to reach patients as VBC models take root and evolve. Four solutions that could promote the goal of innovation under VBC include:
- Adoption of a broader set of quality measures;
- Improved data availability, transparency, and integration;
- Redefinition and identification of unmet and under-met needs; and
- Shared financial risk between life sciences companies and their product purchasers.