Precision for Value establishes value-based strategy practice
Precision for Value, part of Precision Value & Health, has launched the Value Transformation Practice, which executives describe as a novel initiative to equip life sciences companies with actionable strategies, solutions and partnerships to succeed in an increasingly value-based healthcare environment. Leading the new practice is Maureen Hennessey, Ph.D., CPCC, CPHQ, who has been promoted to senior VP, director of value transformation.
“In today’s rapidly evolving healthcare ecosystem, it is imperative for manufacturers to have access to the latest knowledge, tools, and innovations to adapt and thrive in the next generation of value-based care,” executives say. “The Value Transformation Practice will enable Precision’s life sciences clients to be active participants in shaping the changing healthcare landscape and deliver value in today’s currency: better patient experience, lower costs, and improved population health.”
According to Precision for Value, the near-term priorities for the practice include the implementation of customized education and training programs, quality and population health offerings, and value-based care insights forums. Future initiatives will address the seismic shifts in healthcare systems and ensure that patients will have access to the latest and most innovative treatments available.
“The adoption of new, innovative therapies often takes too long – spanning years from the start of evidence-based study to full evidence-based practice,” Dr. Hennessey says. “However, lives are at stake and many patients in need just don’t have that much time. By enhancing customer acumen related to value-based innovation, technology and expertise, the development and implementation of life-changing therapies can be accelerated to deliver better care. In pursuit of that goal, I’m very excited to lead the Value Transformation Practice and guide our clients towards next-generation strategies and solutions that will lead to multi-dimensional transformations across the entire healthcare delivery system.”
Executives at Precision for Value say Dr. Hennessey has led the development of more than 500 strategic quality initiatives with 35 clients in 17 therapeutic areas and served as quality management expert for the launching of Precision’s proprietary quality measure navigation and performance aggregation tool, Qnav. Under her executive leadership, organizations have received recognition from the National Alliance of Healthcare Purchaser Coalitions (formerly the National Business Coalition on Health), the National Committee for Quality Assurance (NCQA), and the National Academy of Medicine (formerly the Institute of Medicine).
“Strategic innovations are critical to who we are as a company,” says Dan Renick, president of Precision Value & Health. “In her new role at the helm of Precision’s Value Transformation Practice, Maureen is uniquely qualified to be a potent catalyst in assisting current and future biopharmaceutical innovators to develop forward-thinking, value-based programs, and we are excited to be able to apply her decades of experience and leadership to this important endeavor.”