Value-Based Initiatives

Rising health care costs have led some health care stakeholders to support efforts to define value in the U.S. health care system. These stakeholders seek to reduce overall health care expenditures by denying coverage of products or services when a third-party has determined that they they do not provide sufficient value to justify their prices. Efforts to define value often lead to the creation of formulaic, mathematical “value assessment frameworks” that can inhibit patient access to care by applying a singular value to a product or service regardless of individual consumers’ needs or circumstances.