How a broad view of value will impact health system drug and device purchasing

The health care landscape has changed immeasurably in the past few years. As such, the ways in which health systems measure the value of drugs and devices has evolved in turn.

To better understand how provider organizations are changing the way they define and determine a product’s value, we surveyed over 80 leaders from health system value analysis and pharmacy and therapeutics (P&T) committees. These individuals are on the front lines of product review.

After analyzing the results from our survey, we identified four ways that health systems will update their drug/device decision-making in coming years.

• Committees will increasingly seek real-world outcomes.
• Committees will calculate the impact a product has on margin instead of just the impact on spend.
• Financial and quality metrics alone will no longer dictate decision-making.
• Committees will rely on new sources of information to evaluate products more holistically.