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Through an exploration of theories of economics and implementation science, as well as practical suggestions for real-world applications, this text provides a foundation for the long and complicated “value” journey the US has bet its entire healthcare system on.  In the US, policy to promote what is referred to as “value-based care” is here to stay. As we move forward within this construct, we need to move beyond the over-simplified definition of value as “quality per dollar spent” to a more functional framework for how to think about value that can adapt to different circumstances and points of view. Only then will it be possible to compare value across settings, conditions, and activities. 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