Rapid Biomedical Innovation Calls for Similar Innovation In Pricing and Value Measurement
Advances in foundational science, technology, and clinical knowledge are driving a revolution in patient care. At the same time, spending on these innovative drugs and devices has increased dramatically. The question is, what—if anything—should be done to regulate this innovation? To balance physician prescribing of state-of-the-art drugs and patient desires to access them with the […]
Discussing the Problems with Adding Budget Criteria to Value Assessments
In a recent post on the IVI-sponsored Health Affairs blog series, Darius Lakdawalla, Executive Director of IVI, and Peter Neumann discuss the use of explicit budget impact criteria in value assessment. Lakdawalla and Neumann write that budgetary concerns are understandable, given that healthcare decision makers are faced with limited resources. Linking short-term budget criteria to assessments of […]
Regulatory, Legal Uncertainties are Barriers to Value-Based Agreements
Alison Sexton Ward, Mark Linthicum, Michelle Drozd, Alison Silverstein, and Joe Vandigo identify key legal and regulatory barriers in the creation of value-based contracts for drugs in their recent addition to the IVI-sponsored Health Affairs blog series. Based on two-part, in-depth interviews with a group of five stakeholders regarding their experience with value-based agreements, the authors identify […]
Divorcing Reimbursement From Real-World Prices
In a recent post on the IVI-sponsored Health Affairs blog series, David Tawes and Marta Wosinka examine consequences of the disconnection between market prices and reimbursement, specifically in that Medicare still uses 2003 average wholesale prices (AWPs) for some drugs. Tawes and Wosinka point out that, in the case of drugs where the actual costs […]
21st Century Cures Legislation a Bad Deal for Patients
In a recent post on the IVI-sponsored Health Affairs blog series, Ameet Sarpatwari and Michael Sinha discuss why the 21st Century Cures legislation increases risk of patient harm. Among the issues they highlight are uncertainty around funding — especially for prevention, research, and regulatory science — and the loosening of evidence standards for FDA approvals. […]
Assessing Healthcare Value Needs a Decentralized Approach
In Tomas Philipson’s latest Forbes.com op-ed, he examines the challenges of value assessment in the U.S. healthcare system and describes a decentralized approach to assessing value that better suits the U.S. context. Using IVI as an example, Philipson outlines several key criteria that a decentralized value assessment approach should meet in order to effectively link […]
A Discussion on Value-Based Pricing
IVI’s Director of Research, Jason Shafrin, contributes to an op-ed for The Washington Post‘s “In Theory Blog: How we should pay for cures, according to economics.” In the commentary, Dr. Shafrin uses the example of a cure for Alzheimer’s disease to illustrate how various stakeholders demand very different pricing structures, and how IVI is working to […]
The Demise of the Medicare Part B Demo
In a recent post on the IVI-sponsored Health Affairs blog series, Rachel Dolan looks at resistance to specific policies that attempt to move towards value-based reimbursement. Despite widespread bipartisan agreement that Medicare Part B should be paying for value, roadblocks are still formidable. Read the full article here. About the Health Affairs/IVI Featured Blog Series: Drugs […]
Cost-Effectiveness 2.0: Poised for a Second Act?
Peter Neumann and co-author Gillian Sanders offer a new perspective on cost-effectiveness analysis in a new article published in the New England Journal of Medicine. Neumann and Sanders provide an overview of recent work and argue that cost-effectiveness analysis should be an essential component of healthcare decision-making. Read the full article here.
Discussing the Cures Act and New FDA Draft Guidance on Communication
In a post on the the IVI-sponsored Health Affairs blog series, Peter Neumann and co-author Elle Pope examine Section 3037 of the Cures Act and new FDA draft guidance, which indicate that drug companies will have expanded flexibility to communicate proactively with payers and formulary committees about the real-world impacts of their products. Read the […]