On March 19, 2015, the US Congress repealed the Sustainable Growth Rate Formula as the mechanism to control Medicare spending on physician services and introduced a new merit-based payment system aiming to link financing of health care with performance and “value.” Although the law focuses on the value-based purchasing of existing health services, it inevitably raises the issue of what is the acceptable value as a basis for allowing health services to be introduced in practice. (Regulatory agencies such as the US Food and Drug Administration [FDA] have typically not been concerned about value.)
Djulbegovic B. Value-Based Cancer Care and the Excessive Cost of Drugs. JAMA Oncol. 2015;1(9):1301–1302. doi:10.1001/jamaoncol.2015.3302
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