Value-based healthcare in Korea: A pioneer in Asia
Korea is one of Asia’s leaders in using value-based analysis to underpin decisions about healthcare expenditure. The country has one of the region’s only comprehensive health insurance systems, which also provides a rich trove of data that analysts can use to help direct spending decisions.
Notably for the region, Korean policymakers have been frequently using cost-effectiveness (CE) measures to shape health investment decisions since 2007. Yet the country still has work to do to ensure that value-based analysis is fully embedded in its system of health technology assessment (HTA), much of which is likely to require more explicit commitments on the part of the country’s politicians and policymakers.
As Korea’s population ages and the cost of new medical treatments continues to rise, the country’s policymakers will face more difficult choices about where to invest scarce resources. The development of a reliable and transparent framework for increasing value cannot come soon enough.