At the HIMSS Global Health Conference & Exhibition https://www.himss.org, the Digital Medicine Society (DiMe) https://www.dimesociety.org, and the Veterans Health Administration (VHA) https://www.va.gov/health launched the new value-driven framework for evaluating healthcare innovations.
The new evaluation framework creates a blueprint for stakeholders to pursue and realize the true value of innovations. The new fit-for-purpose evaluation framework captures both financial and quality of life effects, reflects value over various periods of time, gathers perspectives from all stakeholders, and assesses effects on both the individual and the system of care.
As the boom of healthcare innovation continues, investment in relevant technologies requires large upfront costs with an expectation of improved outcomes and adequate returns downstream. Large investments in healthcare innovations will continue to accelerate as long as the pandemic continues, pressuring systems to evolve to be more effective, efficient, and resilient.
However, the lens by which healthcare innovations are evaluated has largely been disconnected from the reality of how care is delivered and experienced. Previously evaluating the value of healthcare innovations has been limited in focus because of pressures from third party payers, typically being restricted to analyses of economics, not quality to life.
To address these needs, VHA collaborated with DiMe to develop an evidenced-based framework based on an extensive review of over 30 years of literature and recent interviews with subject matter experts.
VHA is already deploying the new fit-for-purpose evaluation framework across their innovation portfolio to ensure that the investments they make will return to the Veterans and the support systems that care for them.
According to Jennifer Goldsack, CEO DiMe, “DiMe is thrilled to partner with the VHA on this work which has the potential to be successfully adopted by the rest of the healthcare market and initiate a new way of measuring success.”