Value-based Pricing for Pharmaceuticals
Implications of the shift from volume to value
Value-based pricing—the alignment of incentives between purchasers and manufacturers—is a paradigm shift that calls for companies to provide pharmaceuticals that demonstrate real, measurable value, and to innovate in their approaches to commercialisation and pricing.
The study’s topics include:
- The impetus for value-based pricing for pharmaceuticals
- Examples of previous value-based agreements
- Barriers to implementing value-based pricing for pharmaceuticals
- Possible benefits of value-based pricing for pharmaceuticals
- Considerations for stakeholders: pharma companies, health plans (private and public), employers, PBMs, prescribers/health care providers, consumers, and policy-makers (state and federal government)
Successful, widespread implementation of a value-based pricing system is dependent on key actions such as developing and adopting useful and workable value metrics, providing adequate reward for value, and establishing electronic exchange of health information to capture data from the entire consumer experience. All stakeholders must collaboratively work together to help ensure these key actions are achieved.
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