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Only 7 percent of employees said their company is ready to adapt to the product and quality information needed for new value-based pricing models.
Value Assessment Frameworks
Some frameworks may undermine personalized medicine
A new study authored by Xcenda finds that many value assessment frameworks still make sweeping conclusions about the economic worth of a treatment based almost exclusively on population averages. As a result, frameworks could unintentionally discourage payers and providers from considering important information about a patient’s biology and preferences that can improve health outcomes.
Turn to Xcenda for global reach and local expertise
In light of growing competition for innovative therapies in addition to rising cost of treatments, manufacturers are pressured to demonstrate product value both clinically and economically. One leading payment model that has led such efforts to align with this objective is value-based pricing (VBP), in which financial risk is shared between manufacturers and payers. VBP has emerged as a front-runner in addressing product value by associating product prices with actual patient health outcomes.