Value-Based Tech Assessment: Finding Common Ground. An Interview with MDIC’s Jo Carol Hiatt

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ARTICLE SUMMARY:

In its unique position as a public/private partnership, the Medical Device Innovation Consortium is looking to correlate the diverse views of key constituencies in assessing the value of innovative technologies. To spearhead this effort, the organization tapped Jo Carol Hiatt, MD, a surgeon who directed Kaiser Permanente’s tech assessment team. Here, Hiatt explains how her initial focus is on real-world evidence and patients’ perspectives as ways to reach common ground.

While value has certainly become the watchword today throughout healthcare, particularly as the US medical delivery system moves slowly from a volume-based or fee-for-service system to more of a value-based structure, the challenge is coming up with a common understanding of that concept among the diverse groups of players who comprise the healthcare universe. Providers, payors, hospitals, product companies, regulators, and patients—to name the major players, but by no means a complete list of the sector’s stakeholders—all maintain their own understanding of what value means, both to them individually and to the system broadly-speaking as seen through their own lens. And typically, those perspectives are unlikely to consider the long-range impact and implications of these value-based decisions on the healthcare system as a whole, seen from a national and even a global perspective.

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