The Value Based Procurement (‘VBP’) concept focuses on purchasing medical technology based on its longer term overall value rather than on its up front cost, thus forming a powerful means for improving patient outcomes and/or reducing the total cost of care delivery.
VBP focuses on the value that a particular product/service/solution can create, in terms of improved outcomes for patients, cost of care efficiencies and benefits for other stakeholders, leading to economic most advantageous purchasing.
In order to facilitate procurement in accordance with the “most economically advantageous tender” approach (‘MEAT’) as defined in the 2014 EU Public Procurement Directive (2014/24) and to support the practical implementation of ‘VBP’, MedTech Europe in partnership with The Boston Consulting Group (BCG) and European procurement experts has developed a supportive tool in Excel format and associated guidelines for procurers and suppliers.
The slide decks offer a comprehensive overview on how this tool can be further used.
