We use a sort of cruddy old SLDC module in Service Now for keeping track of sprints. It has a field for Story Points and Priority. Priority is 1 - Critical through 5 - Moderate. Does this track with Business Value in the Scrum World? 

At my previous job, where I was scrummaster and we used paper to track stories (at least during the sprint), I asked the Product Owner to place a number (in the same scale as story points, but I don't think that's essential) on each of the stories he brought with him to sprint planning. Then we did our ROI calculations to prioritize our work. 

Now, I don't see this "Priority" in Service Now being anything but a holdover from people who don't understand or care about Scrum. 

What is the difference between priority and business value and how can I effectively communicate that we, as a scrum team, need a Product Owner who puts business value on stories?