Tarek DarweeshCEO| Smart Health Medical Co.Riyadh, Saudi Arabia
Innovation in healthcare often comes with a significant price tag. Exploring the concept of Value in Health, I uncovered a compelling observation: the introduction of new technologies and treatments can lead to increased healthcare costs for various reasons:
- Novel treatments for previously incurable conditions may escalate expenses related to managing these ailments.
- The availability of sophisticated yet costly diagnostic and treatment alternatives can drive up overall healthcare expenditures. However, these added costs may not always translate into a proportional enhancement in patient outcomes.
It is imperative to grasp these dynamics to manage healthcare budgets while embracing valuable progress effectively. To successfully incorporate new interventions into clinical practice, it is vital to have a clear understanding of how they contribute to enhancing value. While evidence of cost-effectiveness is crucial, it alone may not suffice to warrant the adoption of an innovation. Decision-making should be guided by a comprehensive evaluation that considers the potential impacts on overall value.
citation: Oxford Value & Stewardship Programme (OVSP) Saving Changes...
Community Specialist| Project Management InstituteNewtown Square, PA, United States
Hi Tarek - thank you for posting and sharing your thoughts! I'm looking forward to hearing from project professionals in the Healthcare space on this topic.
We do have a topic page for the Healthcare industry https://www.projectmanagement.com/topics/healthcare/ which you may find helpful in identifying other community members to connect with on this topic. Saving Changes...
PMI Team Member
