They have partnered with leading procurers to develop a framework that helps contracting authorities in the health care industry make smarter procurement decisions based on an enhanced ratio of quality to price.An investment prioritization framework developed by GE-McKinsey that enables multi-business corporations to prioritize their investments. BCG and MedTech Europe, a European trade association representing the medical technology industry, have forged an ongoing collaboration on value-based procurement in medtech. It serves as a global platform to share learnings, develop effective best practices, and guide the development of value-based health care models globally. In 2019, the World Economic Forum, in collaboration with BCG, formed the Global Coalition for Value in Healthcare, a public-private collaboration to accelerate the transition to value-based health care in health systems around the world. The Global Coalition for Value in Health Care.The mission of ICHOM is to serve as a catalyst for the global value-based transformation of health care by defining standard sets of outcome measures that matter most to patients and supporting the definition and dissemination of best practices. Cofounder of ICHOM, the International Consortium for Health Outcomes Measurement.We have partnered with pioneering organizations to uncover value-based health care insights and drive a common agenda for change. How We Support the Value-Based Health Care Agenda At BCG, we believe this value-based approach is the best way both to improve the quality of care and to curb excess health care spending. By making this data standard and transparent, clinicians can benchmark and compare performance across care sites, document variations in health outcomes, identify best practices, and steer resources toward interventions and practices that have the highest value for patients. Health systems around the world are systematically collecting, sharing, and analyzing health outcome data by disease group and population segment. To address these problems, industry leaders have begun to embrace value-based health care.
There is growing evidence that a substantial portion of health care spending is, quite simply, wasted on avoidable medical complications or medically unnecessary treatments. And this holds true irrespective of the amount of money invested in the systems: those that spend the most money do not necessarily provide the best care. Health outcomes vary widely across hospitals, regions, and countries.
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