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News & Trends - MedTech & Diagnostics

New value-based healthcare report complements MTAA efforts

Health Industry Hub | March 8, 2024 |

MedTech & Diagnostics News: In the face of an aging population, escalating chronic diseases, and economic uncertainties, healthcare systems find themselves at a critical juncture. The challenge lies in ensuring sustainability amid these complex dynamics. The international movement of value-based healthcare (VBHC) offers a holistic approach to address the multifaceted issues plaguing healthcare sustainability.

A newly released report by the Australian Healthcare and Hospital Association (AHHA) delves into the evolution of VBHC and draws lessons from global leaders, aiming to pave the way for operationalising VBHC in Australia. The Transforming for Value-Based Health Care (link below) reflects on the grassroots movement growth, encapsulating notions of equity, public value, context, and holistic social, environmental, and cultural outcomes.

AHHA Chief Executive, Kylie Woolcock, highlighted the urgency of addressing the mounting pressures on the health system, including long waiting lists, ambulance ramping, and unaffordable care.

“Often the solutions do not lie where the pressure is felt, and we need to look to other areas of the health system. VBHC provides a framework to support all parts of the health system to come together with the people and communities they serve. It fosters transparent decisions about where and how resources should be deployed in order to drive the greatest improvements in health outcomes,” Ms Woolcock explained.

Last year’s value-based procurement (VBP) report developed by the Medical Technology Association of Australia (MTAA) explores each state and stakeholder type to understand the VBHC landscape in Australia. The report emphasises cross-stakeholder collaboration, the importance of building a supportive ecosystem, clinical leadership, real-world evidence, innovative funding approaches, and cross-sectoral expert advice.

Ian Burgess, CEO of MTAA, said “By drawing on international successes and best practices, the report paves the way for a collaborative effort to navigate the challenges facing Australian healthcare. There are opportunities to deliver so much more for patients and healthcare systems from value-based procurement through policy leadership and collaboration.”

The AHHA Brief complements the MTAA VBP report by exploring the prerequisites for supporting VBHC operationalisation across Australia. Acknowledging the existing expertise and experience within the Australian health system, Ms Woolcock emphasised the need for a coordinating mechanism.

“Significant expertise and experience in VBHC exist within the Australian health system; with many services, stewards and institutions already contributing to the pursuit of value and outcomes within their own spheres of influence.

“However, the coordinating mechanism that brings together the various expertise from across the system is missing. We have an opportunity to capitalise on the growing momentum within Australia towards VBHC, and resource a nimble and flexible networked model of VBHC implementation. AHHA’s Australian Centre for Value-Based Health Care can provide this opportunity,” she highlighted.

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