Value in healthcare is defined as outcomes that matter to our members relative to the cost of delivering those outcomes. We live in an age of innovation in healthcare where many advances in medical technology have significantly improved outcomes. However, some technologies add substantial cost without adding significant outcomes benefit (eg decreases the value of treatment).
As a not-for-profit, Friendly Society, it's important we have a clear process to approve coverage for new technologies that allows us to prioritise value. We have developed guidelines so that there is a clear and consistent process for our value-based approach to healthcare delivery.
Applications for assessment of health technologies are accepted for the following categories:
- new procedures / technologies
- eligibility criteria changes for an existing procedure
- incremental changes to existing technology / device
- diagnostic tests and investigations.