Health Affairs December 18, 2019
The past decade in US health care has been defined by the “value” movement—an industrywide effort to redesign reimbursements to reward patient outcomes instead of service volume. The tremendous progress to date includes the creation of new policy infrastructure to support innovative payment and delivery models, a systemwide realignment of financial incentives, and promising reports of cost reductions. However, the other variable in health care’s innovation equation—the biomedical sciences—has lacked the analogous attention and reforms needed to unlock value from transformative scientific advances.
Executive order 13890, released in October 2019, provides a policy window for the Centers for Medicare and Medicaid Services (CMS) to extend the “value” movement to biomedical innovation. This post outlines the implications of the executive order,...
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