Most health care providers, payers, and patients would agree that the cost of a medication or medical service should reflect the value it delivers. The question then becomes, “How do you quantify value, particularly when outcomes cannot be easily measured in purely economic terms?”
We believe that definitions of value should reflect the reason why we have a health care system in the first place. It is to help people live healthier, happier, more fulfilling lives. The imperative is to meet that mission as efficiently and affordably as possible, so as to maximize the efficacy of every dollar spent.
IVI was created to raise the level of discussion around value in health care by bringing together all participants in the system—academics, patients, patient advocates, payers, life sciences companies, providers, delivery systems, and other stakeholders—to find common ground in the approach for measuring value. In doing so, we hope to drive waste out of the system, mitigating the rising costs of health care while preserving incentives to develop medical breakthroughs for future generations.
The Innovation and Value Initiative (IVI) is led by nationally recognized scientists, with forward-thinking practitioners representing the payer community, life sciences firms, integrated delivery systems, health care providers, and patient advocates. This group includes health care experts that have pioneered new methods for measuring and rewarding value, nationally-known thought leaders, and innovators on the frontline of new approaches to health care delivery.