Discover how our nation is at the forefront of this transformative approach to health care in Healthy Thinking’s latest podcast.
Value-Based Health Care is an increasingly important health care strategy driven by improving patient experience and outcomes, and effectively using finite resources. Under this approach, patients play an active role in the decision-making process for their own health and social care to encourage better wellbeing.
In Healthy Thinking’s most recent podcast, Life Sciences Hub Wales’ Deputy Chair of the Board, Chris Martin hears from three Value-Based Health Care experts. They explore the challenges and opportunities of this growing field, and why Wales has become the place of choice for its implementation.
Victoria Bates, a leading consultant and Non-Executive Director of Life Sciences Hub Wales, was commissioned by Swansea University to explore how effective collaboration can deliver shared benefits in Value-Based Health Care. She discussed the potential of this approach to health care and the importance of ensuring patients could make informed decisions.
“Often when a patient is given choices, they tend to opt for the treatment that is very often the lowest cost. But it's really important that they understand each of the options and what outcome is likely to be from that decision.”
The podcast also covered how Pfizer, one of the world’s largest pharmaceutical companies, is collaborating with institutions in Wales on Value-Based Health Care projects. The organisation has partnered with Swansea University on a range of pathfinder projects.
Emma Clifton-Brown, Head of Health and Value at Pfizer, detailed what makes Wales an incredible location for progressing Value-Based Health Care.
“There is no better place to really evolve and co-create value-based solutions than in Wales. It's an incredible, really unique operation opportunity and environment for testing these approaches. There’s very supportive policy agenda...an appetite for innovation as well as of course, world leading academic expertise in value-based healthcare.”
Healthy Thinking also heard from Dafydd Loughran, the CEO of Concentric Health, who explored the process of informed decision making. He also discussed how we could facilitate the successful integration of Value-Based Health Care.
“It's not the norm yet. It's not uncomfortable to be not measuring outcomes. Those clinicians and patients need to be our key focus, a key focus for support to make Value-Based Health Care accelerate beyond the early adopters.”
Listen to the full episode to learn more:
To find out more about our focus on Value-Based Health Care and how industry can get involved, visit our Value-Based Health Care webpage.