Value remains one of the most widely invoked and variably interpreted concept in American health care delivery. Beyond patients, stakeholder groups across the health care ecosystem are undertaking value-based initiatives, including payers (e.g., value-based insurance design and payments), provider organizations (e.g., value-based care redesign), pharmaceutical companies and pharmacy benefits managers (e.g., value-based pricing and formularies), and private companies (e.g., value-based technology assessment).
This trend highlights a critical point: Discussions about value cannot progress far without identifying whose value is being considered. Understanding “value to whom” is critical for understanding where and how to appropriately use value-based strategies to achieve progress toward better care. We should know whom we talk about when we talk about value.
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