Population health and well-funded resilient healthcare systems are indispensable for economic prosperity.
The unprecedented global public health crisis in 2020 served as a strong reminder of the health-impact on economies. Now more than ever, healthcare systems are under tremendous pressure to accommodate growing numbers of patients and achieve better outcomes under strict budget constraints. Healthcare systems in the Middle East & Africa region are no exception.
Innovative technologies and solutions can deliver efficiencies for health systems and improved outcomes for patients. However, outdated models of financing and procurement – originally designed for buying low-cost goods at high volumes, or fee-for-service/product – are ill-suited to purchasing innovative solutions that fundamentally alter patient pathways and the economy.
A better approach are value-based healthcare models that consider care to be a long-term priority commencing at early diagnosis to months and often years after treatment.
Mounting challenges facing health systems such as escalating costs, low-value care, disparities in patient outcomes and inefficiency in healthcare delivery are being addressed by the MedTech industry.
In particular, medical device manufacturers are accelerating the shift to value-based high-quality healthcare as a tool to unlock value in healthcare, thereby placing improved patient outcomes, reduced total cost of care, and benefits for stakeholders at the heart of the definition of value.
Medical device manufacturers continue to lead the transition towards value-based healthcare. They are working with providers to control costs and optimize pathways, proactively engage healthcare stakeholders including clinicians, administrators, policymakers, clinical societies, regulators and governments to create alignment on different dimensions of value: clinical and non-clinical patient impact, cost and population impact, particularly for those diseases that carry a significant economic burden in the MEA region.