Value-Based Procurement: The New Imperative for Canada’s Health Care
The Conference Board of Canada, 28 pages
November 5, 2015
Based on the Conference Board’s Strategic Procurement and Innovation conference, this briefing identifies the benefits of innovative, collaborative, value-based procurement and provides key lessons from some who have implemented the concept.
Over the past several years, people in the global health care sector have recognized the need to modernize procurement and make it more strategic and innovative. This briefing summarizes the insights shared at the Conference Board of Canada’s Strategic Procurement and Innovation: Opportunities for Improving Canada’s Health Care Systems conference in the form of four key lessons:
- A strategic, value-based approach to procurement means taking a longer term view of success and basing the value of products and services on a broader quantitative and qualitative objectives.
- Collaboration between public and private stakeholders in health care and innovation can increase understanding of the factors that buyers use to determine value when procuring solutions, and improve and accelerate the development, production, commercialization, adoption, and implementation of innovations.
- Engaging clinicians and other key opinion leaders in the procurement process is critical to enabling and accelerating adoption.
- Strategic, value-based procurement is most successful when it is broadly adopted, aligned between all funders and buyers, and informed by relevant data.