Drive outcomes with value-based contracting
Brian Solow: Value-based contracting has done quite a dramatic change in how I think we are perceiving the value of medications.
Before, it was about volume. The more volume that you could produce, the more you would prescribe, the more prescriptions written.
But now as we look at value as opposed to volume, that's what we need to move more towards is those true healthy outcomes for the individuals.
And so what you're seeing now is the ability of the life science companies, the payers, the insurers to come together and create outcomes-based contracting.
It's got to be good for the patient, it's got to be good for the payer as well, and good for the life science company.
Life sciences companies, health plans and providers are increasing their collaboration on outcomes-based contracting. The push to value, as opposed to volume, in response to value-based contracting is changing how we measure and perceive the performance of medications.