Amidst the broader shift from a fee-for-service (FFS) payment structure to a value-based U.S. health care marketplace, concerns have arisen over a medical product pipeline that is full of innovative and transformative —but also high-cost—therapies without long-term data. These concerns have led to increased interest in developing new payment and alternative financing models for health care that strive to ensure better outcomes for the dollars spent, and thus higher value. This session will focus on the limited but growing experience that exists with these types of arrangements, broadly referred to here as Value-Based Payment (VBP) arrangements. In VBP arrangements, payments are intended to reflect measures of value not volume—that is, better health outcomes and lower total costs of care. The speakers will explore key issues related to the adoption of innovative new models and examine actionable next steps. Join this session to understand the real-world application of VBP models for medical products and current challenges; the implementation of a framework developed by a leading university to better define when outcomes-based approaches are most appropriate; and what outcome-based models might look like for commercial payers and within Medicaid at the state levels.