In an industry actively transitioning to value-based care, defining the exact “value” of a cancer therapy is mired in complexity. Each stakeholder in the conversation—payers, manufacturers, providers, and most importantly, patients—views this principle through vastly different lenses:
- Defining value as simply “a cure,” patients’ perspectives are ultimately weighted toward unrestricted access.
- As “stewards of the healthcare dollar,” payers’ perception of value is the most weighted toward cost.
- Manufacturers’ perspective of value is dependent on price and patient access, which is, in turn, dependent on provider clinical adoption with influence from payers.
- Facing unparalleled complexity and entrusted with the lives of their patients, providers interpret value as clarity, stability and fairness when engaging with the other stakeholders in the healthcare marketplace.
How can we solve the “riddle of value?” What is the way forward? How can we arrive at a uniform definition of value that benefits patients and caregivers while preserving patient choice and respecting physician autonomy? In this article, clinical and health economics experts from Cardinal Health Specialty Solutions share their viewpoint and propose an approach centered around a single unifying principle: administering the right drug to the right patient at the right time.