PRACTICAL IMPLICATIONS OF VALUE-BASED PRICING AND EMERGING VALUE FRAMEWORKS IN HEALTH TECHNOLOGY ASSESSMENT
Tuesday, 7 November 2017 | 12:30- 13:30
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.
However, efforts to implement the model have been limited and proven challenging. Organizations have also taken various approaches to defining drug value, including the American Society of Clinical Oncology (ASCO) Value Framework, the European Society of Medical Oncology (ESMO) Magnitude of Clinical Benefit Scale, the Institute for Clinical and Economic Review (ICER) Evidence Reports, and the Memorial Sloan Kettering Cancer Center (MSKCC) Drug Abacus. ASCO, ESMO, and MSKCC tools have focused on the rising cost of oncology therapies, whereas the ICER reports span across multiple therapeutic areas. Due to varying methodologies in these approaches and the limited, proprietary nature of current VBP agreements, the durability of VBP remains to be determined. We will discuss the practical implications of VBP, expand on the highlights and shortcomings of these value frameworks, and explore the implications for stakeholders.
- Moderator: Jay Jackson, PharmD, MPH
Senior Vice President, Consulting Services, Xcenda, Palm Harbor, FL, USA
- Speaker: Andrew Briggs, DPhil, MSc
Visiting Investigator, Center for Health Policy and Outcomes, Department of Epidemiology & Biostatistics, Memorial Sloan-Kettering Cancer Center, New York, NY, USA
- Speaker: Ansgar Hebborn, PhD
Head Global Market Access Policy, Global Pricing & Market Access (GPMA), F.Hoffmann-La-Roche AG, Basel, Switzerland
- Speaker: Ken O'Day, PhD, MPA
Director, Global Health Economics, Xcenda, Palm Harbor, FL, USA
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