Alexandria, VA – August 23, 2022 – The Innovation and Value Initiative (IVI), a non-profit research organization committed to advancing the science, practice, and the use of value assessment in health care, CEO Jason Spangler, MD, MPH, FACPM released the following statement in response to the Inflation Reduction Act of 2022 becoming law:
“The Inflation Reduction Act of 2022 contains a number of health care provisions, which aim to reduce Medicare drug costs, limit out-of-pocket costs for patients, and lower Affordable Care Act premiums. These provisions can positively impact health equity and will benefit millions of patients and their families.
With these changes, it’s tempting for policymakers to solely focus on the cost side of the value equation when it comes to assessing biomedical innovation. Rather than hardcoding just one way to assess value, we urge policymakers to incorporate equitable, patient-centric, flexible, transparent, and innovative approaches to the assessment of the value of health technologies. Doing so will improve the access, appropriateness, and affordability of care delivered to patients and paid for by employers, private payers, and the government.”
The Innovation and Value Initiative (IVI) is a 501(c)(3) tax-exempt, non-profit research organization dedicated to advancing the science and improving the practice of value assessment through development of novel methods and the creation and application of enhanced value assessment models to support local decision-making needs in healthcare.