Value-based Healthcare (VBHC) is a tool to measure the value of Health results and has different applications for patients, providers, payers, healthcare professionals and for society in general. According to Sofiat Akinola, who within the World Economic Forum (WEF) directs initiatives to improve access to health, aging and longevity, the VBHC increases patient satisfaction, since it quantifies the assessment of these improvements. The WEF has been developing initiatives on VBHC since 2015, in which, with the collaboration of the Boston Consulting Group and Professor Michael Porter, they developed an international implementation plan, also working with ICHOM.
Sofiat participated in an online roundtable on VBHC, which was moderated by Luis Truchado, Partner / Director of EuroGalenus and ‘ExMBA 90, and organized by the IE Business School’s Life Sciences Alumni Club, on Thursday, November 26.
David Castro, Senior Consultant at Quodem, also intervened highlighting challenges in the VBHC implementation (attitude towards transparency, security, and data privacy, all the infrastructure to collect them and tools to exploit them) that, to face them, technology must not be considered as a barrier, but as a facilitator of change to make results-based medicine a reality. David commented on specific experiences in Europe such as those of Martini Klinic, Sateon or ICHOM in cataracts, which aroused great interest among the attendees.
Subsequently, Dr. Alfonso Arias, who is the Spanish representative on the Board of the European Society of Ophthalmology, was able to go into detail about the specific case of cataracts, since it is a very frequent pathology and vision is directly associated with quality of life. Cataract surgery provides measurable value and from his position at the Rey Juan Carlos University, Dr. Arias has led studies including several hospitals, which has been possible thanks to comparable ICHOM standards.
The fourth speaker was Máximo Gómez, director for Southern Europe at Johnson & Johnson Vision, who began by explaining the fundamental difference between value and price, which in health refers to directing expenses towards results and value, not towards cost. Among the results obtained, he proposed to accentuate those that matter to patients and which are, in the long run, optimizing health systems.
The debate with the nearly 100 participating Alumni and had a high level, due to the sound knowledge shown by the speakers and the quality of questions asked.