Dr Ilene Hollin: One-Size-Fits-All to Value Doesn't Work

A one-size-fits-all approach to value is impossible in the US healthcare system, but a pluralistic approach is extremely complex to implement, says Ilene Hollin, PhD, MPH, the National Pharmaceutical Council and University of Southern California Schaeffer Center’s Postdoctoral Health Policy Fellow.

Transcript (slightly modified)

Is a one-size-fits-all approach to value possible in US healthcare?

It’s not possible to have a one-size-fits-all approach to value assessment in the US healthcare system. We need a tailored approach, and to do so this means that we need to understand, define, and measure value accurately, and then tailor our approach to the stakeholder, to the health condition, and to the sub-population. This is imperative because there are substantial repercussions for reimbursement, patient access, and patient outcomes. It’s also important that we have a tailored approach because this is what will help drive innovation and make sure that future therapies are developed with what the patients want in mind.

What are the challenges of dealing with a pluralistic approach to value assessment?

The challenges of pluralistic approach to value assessment are that we have to account for individual preferences while making decisions at a population level. This is extremely complex to implement in a real-world application. It means highly sophisticated formulary designs and highly sophisticated reimbursement arrangements.