We work at the critical intersection where innovations that save and sustain lives meet the physicians, nurses and pharmacists who make it happen.
Value based procurement (VBP) has the potential to support innovation and transform the NHS. It is a concept that has been widely discussed for many years as a way of delivering better patient outcomes, stronger partnerships with suppliers and tangible savings.
At Baxter we recognise the need to develop long term partnerships that go beyond the traditional procurement of product, looking more at improving clinical outcomes and reducing waste along the continuum of care.
Many people have an interest in value based procurement but are not sure where to start. In April 2021, Baxter produced a paper, (available here) to share our learning and experiences in embedding VBP, including challenging some of the perceptions faced along the way. The guide was informed by experts in procurement from national and local NHS bodies as well as Baxter's own experiences of working in partnership with the NHS over many years.
Baxter is also committed to collaborating with procurement professionals and thought leaders to consider how VBP can and should evolve and how it can potentially be used within NHS Trusts, particularly as the NHS recovers from the COVID-19 pandemic. Findings from a 2021 roundtable on the topic can be found here.