Each European market has its own unique characteristics: in some countries, budgeting and reimbursement decisions are made by regional authorities while in others these are made at national level. Certain countries have separate systems hospital and community care reimbursement, and the amount paid for services can differ even within a country. MedTech Europe supports its members in understanding the requirements for obtaining reimbursement.
Navigating complex medical technology financing systems is challenging. Companies need to know both the decision-making process and how to engage with key stakeholders. This requires knowledge of payment and reimbursement systems, local policy environments and how healthcare systems are organised.
MedTech Europe aims to reduce uncertainty for manufacturers and help them to bring their products to market. Working with members, we aim to prevent:
- unnecessary delays in access to innovative technologies;
- slow adoption of new and effective technologies;
- inequalities in guaranteeing that patients receive the most effective and efficient treatment;
- negative impacts on investment in Europe with the latest technologies being made available in other countries first.
Our industry embraces transparency, early dialogue and consistency of decision-making. However, the medical technology industry recognises that this comes with potential challenges. One of the key issues is the asymmetry or incompleteness of information at the time of decision-making on funding and reimbursement. Therefore, performance-based risk sharing agreements, coverage with evidence development schemes, or patient access agreements have begun to emerge to mitigate the asymmetry of information and align stakeholders around driving better patient outcomes.
The medical technology industry is fully supportive of the shift towards value-based health care, including in the financing medical technologies. We aim to enhance communication with the payers’ community, as one of the most prominent stakeholders for the funding and reimbursement. A constructive dialogue can lead to the design and implementation of state-of-the-art methods for an appropriate assessment of medical technologies. This approach should use the most relevant data to achieve a system that incentivises healthcare innovation and which truly delivers value through improved healthcare outcomes.
MedTech Europe’s six key principles for funding and reimbursement:
- Transparency of funding & reimbursement policies
- Predictability & consistency in decision-making processes
- Stakeholders’ involvement in funding & reimbursement processes
- Enable patient access to care
- Support and reward of innovation