As approximately 70% of all medical technologies are purchased through procurement, an efficient (public) procurement process is essential for all healthcare actors e.g., patients, clinical staff, healthcare providers, society and the medical technology industry. Better public procurement can help to reduce the pressure on health budgets in EU Member States, deliver better value to patients, sustain healthcare systems and foster the development of high-quality medical technologies.
Moving beyond volume- and price-based procurement, Value-based Procurement (VBP) is an innovative procurement approach that supports patient-centric, high quality and affordable healthcare and is an enabler of Value-based healthcare. VBP awards a supplier’s contract on the basis of what matters to patients and care providers and aims to have an impact on the outcomes of health care delivery and management of the total cost of care delivery.
VBP focuses on how a product or solution can best deliver desired outcomes, reduce the total cost of care and provide long-term benefits to all the stakeholders in the healthcare ecosystem, rather than focusing exclusively on initial cost of a medical technology device, which is usually equated to price.