Sir Muir Gray and Lucy Abel debate: Is value-based health care nothing more than health econimics re-packaged or is health economics nothing more than only one of the six contributors to value-based healthcare?
Health economics is concerned with how to allocate resources in healthcare to optimise outcomes. Health economists have developed a variety of methods to evaluate whether the cost of providing healthcare interventions is worth the benefits. In other words, whether they are good value. These are based on preferences expressed by wider society relating to the value of increasing the length and quality of life. These values can be applied to an intervention by linking them via clinical outcomes.
Value-based healthcare’s concern with technical, personal, and allocative value are defined as, respectively, whether an intervention improves clinical outcomes; whether those clinical outcomes are meaningful for patients; and whether those improved outcomes are worth the costs. In this way it covers the same core principles as health economics, while ignoring over 50 years of research in this field.
Recent attempts to implement value-based healthcare have ignored issues such as interaction between interventions and fully considering opportunity cost. As a result, value-based healthcare adds little to the existing body of research, and diverts investment from proven methods, which risks reducing the value achievable in the NHS.
Sir Muir Gray is now working with both NHS England and Public Health England to bring about a transformation of care with the aim of increasing value for both populations and individuals and published a series of How To Handbooks for example, How to Get Better Value Healthcare, How To Build Healthcare Systems and How To Create the Right Healthcare Culture.
His hobby is ageing and how to cope with it and he has published books for publish a book for people aged seventy called Sod 70! one for the younger decade called Sod 60! This with Dr Claire Parker, and his book for people aged 40-60, titled Midlife, appeared in January 2017. Other books in series on Sod Ageing are Sod it, Eat Well, with Anita Bean and Sod Sitting, Get Moving with Diana Moran, the Green Goddess. For people of all ages Dr Gray’s Walking Cure summarises the evidence on this wonderful means of feeling well, reducing the risk of disease and minimising disability should disease strike.
Lucy Abel is a health economist working within the field of primary care and is part of the Nuffield Department of Primary Care Health Sciences at the University of Oxford. She collaborates with research groups to bring the tools of economic evaluation to primary care health science research.
This talk is being held as part of the Practice of Evidence-Based Health Care course which is part of the Evidence-Based Health Care Programme. This is a free event and members of the public are welcome to attend.