“Pay for Value”: Blockchain for Drug Pricing in Canada

Precilia Kong, Chang Lu () and Citlali Cruz
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Precilia Kong: University of British Columbia, Faculty of Medicine
Chang Lu: University of British Columbia, Blockchain@UBC
Citlali Cruz: Independent Consultant on Policy, Technology and Immigration

A chapter in Blockchain in Healthcare, 2023, pp 75-99 from Springer

Abstract: Abstract Value-based pricing (VBP) in healthcare refers to payment based on the quality of care delivered or healthcare outcomes and has not been broadly implemented. Although in its infancy, Distributed Ledger Technologies or DLTs (e.g., Blockchain) have emerged as a potential solution for Canada’s chronic data obstruction problem through gathering cost information and patient experience metrics that are currently dispersed. In this chapter, we identify potential barriers for the implementation of VBPs in Canada by conducting a literature review, and examine how leveraging DLTs can address those barriers through a combination of qualitative (Grounded Theory; GT) and quantitative analyses. Results show that among three identified categories of barriers for VBPs implementation, infrastructural and economic ones are most critical. Based on the empirical activities and findings, we give recommendations on how smart contract can be deployed to facilitate VBPs implementation and which blockchain platform should be considered for building smart contracts.

Keywords: Blockchain technology; Value-based pricing (VBP); Adoption; Barriers and recommendations (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fuobcp:978-3-031-45339-7_4

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DOI: 10.1007/978-3-031-45339-7_4

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