J&J Ups The Tempo In The March Toward Value-based Health Care
Johnson & Johnson's CareAdvantage plan represents a major commitment to working with providers on patient outcomes and reducing costs, and looks beyond the mere price of products. As the group doubles down on value-based health care, its rivals in the medtech devices space will have a lot to reflect upon.
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Johnson & Johnson's global CareAdvantage system, a tool to help hospital systems deliver quality care efficiently and affordably, was launched in spring 2017. Almost a year into the initiative, Hugo Breda, the group’s EMEA vice president, explains the role that J&J plays as it brings its unique care provision concept to clients.
Driven by increasingly cost-conscious payers, health care is shifting from a volume-based model to “value-based care,” now the latest buzzword. In response, the medical device industry has started employing new commercial strategies.
Federal health-care policy in the US, at least, is potentially in for a major transition, but that is not having much of an impact on the fundamental business models of medtech firms and their ever-accelerating focus on value-based and risk-sharing business models. Emphasis on value strategies was a significant medtech theme at this year's JP Morgan Healthcare Conference bonanza.