On 6 December 2024, EuroCham Vietnam, in collaboration with the US-ASEAN Business Council (USABC) and the Asia Pacific Medical Technology Association (APACMed), hosted the Value-Based Market Access Symposium in Hanoi. The event brought together over 70 participants, including key policymakers, healthcare professionals, and representatives from Vietnam’s medical device sector, to discuss the potential for a patient-centric, value-based healthcare system in Vietnam. This also provided a platform to strengthen collaboration between the public and private sectors to tackle pressing challenges in Vietnam’s healthcare system.
The Case for Value-Based Healthcare
Dr. Nguyen Minh Loi, Director-General, Infrastructure and Medical Devices Administration, Ministry of Health, inaugurated the event, emphasising the Ministry’s commitment to reforming Vietnam’s healthcare system to align with international standards. He highlighted the pressing need to shift from volume-based to value-based procurement models, focusing on long-term outcomes rather than immediate cost savings.
Mr. Anirudh Sen, Market Access Director at APACMed, followed with remarks highlighting the importance of collaboration and the adoption of global best practices to improve healthcare quality and sustainability in Vietnam.
Bridging Challenges with Solutions
The symposium addressed critical issues within Vietnam’s healthcare procurement practices, particularly the limitations of volume-based models. Current practices often prioritise cost efficiency over quality, hindering the adoption of innovative solutions.
Key discussions revolved around:
- Global Best Practices: Panelists shared insights into value-based procurement frameworks implemented in other markets, demonstrating their effectiveness in improving patient outcomes.
- Enhancing Infrastructure: Improving data systems and building capacity within Vietnam’s healthcare ecosystem were identified as crucial steps.
- Collaboration Opportunities: Fostering partnerships between government agencies and private stakeholders was underscored as a pathway to sustainable procurement practices.
A Step Towards Innovation and Sustainability
In his closing remarks, EuroCham Vice-Chairman Torben Minko emphasised the importance of collective action in achieving Vietnam’s healthcare aspirations. He called for continued engagement among policymakers, healthcare providers, and industry leaders to implement value-based procurement strategies that prioritise quality and sustainability.
Mr. Minko reiterated EuroCham’s dedication to supporting Vietnam’s transition to patient-centric healthcare models and its role as a bridge between government and the private sector.
The Value-Based Market Access Symposium concluded with a shared commitment to advancing Vietnam’s healthcare system through collaboration and innovation. With active participation from policymakers, industry leaders, and healthcare providers, the event laid the groundwork for adopting value-based procurement practices that align with global standards and enhance patient care in Vietnam.
The symposium featured prominent speakers and attendees, including:
- Ministry of Health:
- Dr. Nguyen Minh Loi, Director-General, Infrastructure and Medical Devices Administration
- Dr. Le Van Dung, Deputy Director-General, Infrastructure and Medical Devices Administration
- Mrs. Nguyen Khanh Phuong, Director of Health Strategy and Policy Institute
- Mr. Bui Viet Dung, Senior Officer, Infrastructure and Medical Devices Administration
- Representatives from central hospitals.
- EuroCham and MDDSC Representatives:
- Mr. Torben Minko, Vice-Chairman of EuroCham and MDDSC
- Mr. Duc Duong, MDDSC Vice-Chairman
- Representatives from 15 MDDSC member companies.
