The World Economic Forum (WEF), an international foundation based in Geneva that promotes cooperation among the public, private, academic and other sectors, will launch a series of value-based pilots around the world under its Value in Healthcare initiative. The first pilot, to be rolled out in Atlanta, will focus on coordinating care for patients with heart disease.
The goal of the overall project is to show the value of a new health care model that tracks and pays for treatment based on outcomes, instead of the volume of care provided. Although the concept is certainly not new, and in fact is one of the underlying tenets of the Affordable Care Act, Michael Porter, an economist and a Harvard Business School professor, said the “push back” in transforming health care in this manner is on the implementation, not the ideas.
Novartis CEO Joseph Jimenez said, “We need to eliminate some of the silos in health care systems and spending, reduce waste and take a more holistic approach to resource allocation, centered on the value delivered to patients,” Fortune reported.
While more than 50 stakeholders are involved with the Value in Healthcare initiative, Novartis AG, Takeda Pharmaceuticals, Kaiser Permanente, Medtronic, Qualcomm’s health data unit and health officials from the Netherlands and Britain are among those that will participate in the first pilot.
Additional pilots are planned for the Netherlands, Singapore and China.