MTAA Launches Value-Based Procurement Report: Pioneering Solutions for a Resilient Healthcare System
The Medical Technology Association of Australia (MTAA) is proud to announce the release of its highly anticipated Value-Based Procurement Report, a comprehensive analysis of Australia’s readiness to use value-based procurement to drive meaningful health outcomes for Australians.
Every year Australia spends $11.4 billion on medical devices, representing 5.2% of total healthcare expenditure. This report looks at how value-based procurement (VBP) can be used to achieve better value for this spending to improve patient outcomes and help eliminate waste and inefficiencies in the health system.
In an era marked by an aging population and rising chronic diseases, coupled with economic uncertainties, the sustainability of healthcare delivery has become a paramount concern. The Value-Based Procurement Report delves into these challenges, presenting a roadmap to help safeguard the future of Australian healthcare.
Governments and the healthcare sector are focused on implementing value-based healthcare (VBHC). The VBHC delivery model improves health systems, to the benefit of patients, in a way that considers health outcomes and the total costs across the entire continuum of patient care. This model must be delivered to ensure the sustainability and performance of the Australian healthcare system.
However, to-date, there has been a relatively little focus on how purchasing decisions through procurement processes are made to support the objective of VBHC. VBP ensures patient outcomes are the primary decision-making criteria in purchasing. The procurement decision is often the most critical decision which determines the health technology the patient receives.
The MTAA VBP Report is an extensive deep dive, looking at each state and stakeholder type to understand the VBHC and VBP landscape in Australia, assessed by the readiness of Australians federal and state stakeholders to move forward.
The Report highlights the importance of cross-stakeholder collaboration and the essential role governments can play in leading discussions and implementing VBP policy.
Recommendations include the need to build a supportive ecosystem and clinical leadership, the use of real-world evidence, the implementation of innovative funding approaches and cross-sectoral expert advice.
MTAA CEO, Ian Burgess, said the comprehensive White Paper, backed by rigorous research and expert insights showcases VBHC and VBP as integral components of a resilient healthcare system.
“By drawing on international successes and best practices, the report paves the way for a collaborative effort to navigate the challenges facing Australian healthcare,” Mr Burgess said.
“There are opportunities to deliver so much more for patients and healthcare systems from value-based procurement through policy leadership and collaboration.
“MTAA is committed to ensuring that the medical technology sector plays a pivotal role in shaping a sustainable and prosperous future for Australian healthcare.”
For further information and to download the full report, visit: www.mtaa.org.au/valuebased-procurement-australia-report