Market Access and Reimbursement System in the British NHS
With the growth in daily hospital admissions in England, it has become essential for the healthcare industry players to understand the market access landscape and the reimbursement system in the British National Health Service (NHS) to identify the market opportunities and challenges. The medical device manufacturing industry and the health care service providers must collaborate […]READ MORE >>
With the growth in daily hospital admissions in England, it has become essential for the healthcare industry players to understand the market access landscape and the reimbursement system in the British National Health Service (NHS) to identify the market opportunities and challenges. The medical device manufacturing industry and the health care service providers must collaborate with NHS to innovate and introduce new challenges that will transform medical care. In terms of efficiency, cost effectiveness, safety, and patient-centric care, the British NHS is ranked as the best healthcare system across the globe. The British NHS is comparatively less expensive as compared to the other healthcare systems with no compromise over the quality of the medical care service. However, transformation and innovation on a large scale needs commitment, investment, and coordination to impact the economy and support the patients positively.
What is Market Access in the Healthcare Industry?
Market access is a continuous process which ensures that a patient receives rapid and consistent access to medical care at the right price. It often entails value identification, creation, and communication-based on payer-consumer insights and clinical and health economic outcomes. The global market access processes must link its requirements to the local process by conforming to the specific market needs as each healthcare system is unique. The only challenge that the healthcare market access system faces is to link myriad processes together and create a seamless experience for the payers, for the R&D team, and for the patients to deliver success.
Market Access and Reimbursement System – Current Scenario in the British NHS
The reimbursement system in the British NHS, as compared to the other healthcare markets, has streamlined processes that don’t require the manufacturer to use specific product-related costs, perform separate procedures, and negotiate coverage and reimbursement terms with every health insurance company in the market. The British NHS reimbursement system, formerly known as payment by results, now follows a complex monitor payment system that rewards the activity and not the results or outcome. The hospitals are often paid higher for emergency admissions, specialist service top-ups, day case treatments as compared to longer hospital stays according to the best practice tariffs.
To know more about the market access and reimbursement system in the British NHS
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- What Are the Reimbursement Challenges Faced by Medical Device Companies?
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