Mecomed, the medical devices, imaging and diagnostics trade association serving as the voice of international MedTech manufacturers across MEA, yesterday unveiled its position on value-based healthcare at Arab Health.
Speaking at a networking breakfast at Bubble Lounge, Executive Director Dr Inna Nadelwais outlined the findings and recommendations of a new paper that identifies a value-based healthcare model as a “paradigm shift” unlocking major benefits, with value for patients as the central goal.
The value approach, it was explained, addresses challenges that include high variations in patient outcomes and spiralling healthcare costs. The latter can be seen in the case of ageing populations, particularly in countries with predominantly public healthcare systems.
A value-based model, therefore, promises to deliver better and more consistent patient outcomes – at the right cost of delivering healthcare. It achieves this through more accurate and efficient care, reducing hospital stay and exploring innovative patient pathways.
Mecomed recognises however that any transformation to this new model will be a complex task. Rather than a single step, an overarching strategy is required that determines how healthcare is organised, delivered and measured.
Medical Technology industry best positioned to make it happen
Taking this into account, the Medical Technology industry is particularly well-positioned to enable transformation through its emphasis on innovation, relationship with healthcare providers, therapeutic experience and wealth of data. More specific ways in which it can help include:
- Providing innovative products, services and solutions for health issues
- Supporting cost-containment by identifying patients in the early stages of chronic disease or at risk of disease onset
- Collaborating with payers and providers creating shared value for patients
- Developing digital capabilities and facilitating real-world data collection
KSA and UAE lead the way
Industry aside, Mecomed also believes that country leadership can play a critical role. Governments in MEA have significant opportunity to move faster than advanced economies in implementing value-based healthcare initiatives. This is for reasons that include not having to face legacy infrastructure and heavy investments in high-cost non-interoperable systems, while the GDP percentage of healthcare spending is also growing faster than in developed countries.
Examples shared of governments currently leading the way included Saudi Arabia and UAE, whose Vision 2030 and Vision 2021 respectively are fully aligned with value-based healthcare principles and capitalise on digital platforms for therapy registries, patients monitoring, outcomes measuring, wearables and activities trackers and online curricula.