Value Analysis Committee
Also known as: VAC, Technology Assessment Committee, Product Review Committee
A hospital committee responsible for evaluating new products and technologies for clinical value, safety, and economic impact before approving them for institutional use.
Full Definition
The VAC is the institutional decision-making body that economic buyers work through to approve new products. VAC approval is typically required for any new device, technology, or service above a certain cost threshold. VAC processes involve clinical evidence review, economic analysis, and comparison to existing alternatives. Understanding the VAC process at target institutions is essential to commercial strategy — it defines the evidence requirements and timeline for adoption.
Example
A surgical robotics company reaches the CMO of a target health system. The CMO is interested but requires VAC approval. The VAC process takes 6 months and requires a formal economic analysis, a clinical literature review, and a trial period. The company's VERITAS Meeting 5 question — 'Would you help me approach the VAC?' — is the key to accessing this process.