The Medical Technology Association of Australia (MTAA) will today host its Value-Based Healthcare Summit.
The summit will bring together policymakers, patient advocates, providers, payers, and medical device companies to discuss value-based healthcare.
Speakers include Department of Health deputy secretary Mark Cormack, CEO of Private Healthcare Australia Dr Rachel David and patient advocate Tessa Kowaliw.
In a statement, the MTAA said the current service delivery system in Australia provides fragmented care, differences in outcomes and clinical practices.
"If Australia seeks to become the 'healthiest nation on earth' it will need to transform its healthcare system to be fit for the 21st century," it said.
“Value-based healthcare is certainly the health buzzword of 2018," said MTAA CEO Ian Burgess.
“Today’s Summit is about bringing all those healthcare stakeholders together to start a conversation as we transition away from volume to value, and refocus our healthcare system on value for patients.
“The concept of value-based healthcare promises to be a more effective and more sustainable approach, while improving the quality of care delivered for each dollar spent.
“All stakeholders need to ask themselves 'what will this change mean?' or 'when will it happen?' but also 'how do we get there?
“The medical technology industry makes a highly significant contribution to the quality of healthcare in Australia in helping people live longer, healthier and more productive lives.
“To prepare for this changing environment, it will be important for medical technology companies to understand, demonstrate, and clearly articulate how their offerings can not only improve patient outcomes but also create value for healthcare stakeholders.”