This WHO policy brief explores the transition from value for money to value-based health services in the 21st century. It highlights the urgent need for efficient and effective health expenditure to ensure universal health coverage (UHC) and improve service coverage. The brief outlines a framework that links value for money in health benefit package selection with strategic purchasing to drive integrated people-centered health services (IPCHS). By focusing on what matters to people, rather than just economic evaluation, the brief aims to enhance quality, equity, and access to health services. Intended for policymakers and stakeholders in the health sector, it provides guidance on aligning health policies with value-based approaches to maximize efficiency and health outcomes globally.