HOSPITAL VALUE ANALYSIS COMMITTEE (VAC) INFLUENCES ON MEDICAL DEVICE REIMBURSEMENT

As government reforms and patient centric initiatives guides healthcare providers to look more critically at the products that are purchased, device manufacturers must have adequate evidence and data demonstrating the products medical value and cost effectiveness. The hospital value analysis process for medical devices has inevitably progressed to include more formalized committees, sophisticated evaluation metrics, and a greater influence on the procurement process. To remain competitive in the evolving healthcare landscape, reimbursement teams must understand the VAC process and future direction, create channels and systems to best communicate with VAC stakeholders, and identify and quantify a product’s value proposition throughout the device lifecycle.

• VAC now and then: Structure, processes and trends
• Defining key factors driving VAC interests
• Broad overview of VAC device financial analysis methodologies
• Primary considerations when developing comprehensive value propositions
• Strategies for standardizing physician preference items (PPI)

Speaker:
Barbara Strain
Director of Value Management and Supply Chain Management
University of Virginia Health System