Lakdawalla: Different Perceptions of Value Need Better Representation

from tHEORetically Speaking: The HealthEconomics.Com Blog at on August 30, 2017 at 05:03PM

In an interview with the American Journal of Managed Care, Dr. Darius Lakdawalla said the varying perceptions of value by different stakeholders requires better representation.

Stethoscope on money“I think that there is sort of a central premise of value framework, many value frameworks at least, that there is a single value that is inherent to a medical technology, and I don’t think that’s quite right,” Lakdawalla said.

Lakdawalla is the quintiles chair of Pharmaceutical Development and Regulatory Innovation at the School of Pharmacy at the University of Southern California.

According to a Health Affairs blog post, any product of the current health care debate, whether it’s a complete overhaul of the Affordable Care Act or tweaks to it, will “likely require that patients make decisions about what constitutes value.”

“As we define value — and much work remains to be done in that area — be sure that value assessments adopt the patient perspective,” according to the post. “Second, … we have to communicate these findings to the people making decisions in ways that facilitate value-based, shared decision making between patients and providers.”

Lakdawalla said it’s vital providers fully understand value as they counsel patients or “respond directly to financial incentives int he context of … an accountable care organization.”

Click here to watch Lakdawalla’s invterview with AJMC.