Recent pharmaceutical innovations offer unprecedented possibilities for curing, treating, or preventing a range of diseases. However, patients, providers and payers alike have raised concerns about the affordability and sustainability of these drugs. As a response to price increases of both single-source and generic drugs, some stakeholders are calling for a move towards basing payments on value, and some payers and pharmaceutical manufacturers are exploring ways to base payments on outcomes. However, many challenges remain.
Experts will explore emerging approaches for determining the value of prescription drugs, as well as examine the barriers and opportunities for value-based payments in the current public and private coverage environments:
• Steven Pearson, founder and president, Institute for Clinical and Economic Review (ICER), will explain the considerations current value frameworks use and why analysts have proposed them as a means for determining drug prices.
• Leigh Purvis, director, health services research, AARP, will address the role of consumers in developing these value frameworks, including the challenge of defining what truly constitutes “value” to them.
• Bobby DuBois, chief science officer and executive vice president, National Pharmaceutical Council, will outline how the industry defines benefits and costs when considering value, as well as address the potential manufacturing-related challenges that value-based pricing could pose to manufacturers, including limiting future innovation.
• William Shrank, chief scientific officer and chief medical officer, provider innovation and analytics, CVS Health, will explain the possible benefits and challenges for payers, as well the lessons learned, in implementing payment approaches based on value in existing programs.
Sarah Dash, Co-CEO & President, Alliance for Health Reform, will moderate the discussion.
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Contact: Monica Laufer email@example.com 202-789-2300
The event is organized by the nonpartisan Alliance for Health Reform with support from CVS Health.
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