Emerging Innovations in Health Services: Can Value Assessment Unlock Their Potential?

ISSUE: Innovation in health services, driven by advancements in technology and care models, is accelerating alongside pharmaceutical innovation. Notable examples include the integration of artificial intelligence into clinical decision-making and the early incorporation of palliative care into cancer treatment pathways, both of which hold significant potential to enhance population well-being. However, these advancements present challenges to the healthcare ecosystem, particularly in developing reimbursement models that encourage the adoption of high-value innovations while deterring low-value services. The ongoing shift from fee-for-service to value-based reimbursement in the United States offers a key opportunity to align payments with value. Robust value assessment serves as the foundation for these models but faces significant hurdles, including unclear definitions of "value" and limited effectiveness and cost data. This panel will discuss and debate the benefits and challenges of applying value assessment to health services innovation, providing actionable insights to inform reimbursement strategies. OVERVIEW: The session will begin with the moderator providing an overview of the current state of innovation in health services and perspectives on value assessment (5 minutes). Brett McQueen will address challenges in measuring the effectiveness and costs of health service interventions, proposing solutions to prioritize patient-centered outcomes and improve evidence generation (13 minutes). Nathaniel Hendrix will explore the challenges of performing economic evaluation on artificial intelligence-based clinical decision support (13 minutes). Xin Hu will present a case study on the value assessment of an early palliative care model for advanced-stage cancer, highlighting challenges in adoption, the role of value-based models, and the quantification of critical value elements (13 minutes). The panel will feature interactive real-time polling to engage participants and conclude with an audience discussion.