The pharma industry is experiencing increasing demand from the public and regulatory agencies to define and measure the value of their treatments. Pharma manufacturers today must understand the requirements of many different stakeholders.
The increasing public concern over healthcare costs has led some organizations to define their value frameworks more clearly. Healthcare value frameworks are intended to ensure patients have access to effective, high-quality and responsibly priced treatment options.
Value frameworks impact many players in the healthcare space. According to Ashley Jaksa, VP of Data and Analytics at Context Matters:
" To strategically plan drug development for optimal market access, manufacturers must recognise how these recent efforts to measure value affect market access and payer decisions. Patients, physicians, payers and policy makers use these frameworks to make more informed decisions on care and formulary listings."
In recent years, the following organizations have developed value frameworks for healthcare treatments:
- The American College of Cardiology and the American Heart Association (ACC-AHA)
- American Society of Clinical Oncology (ASCO)
- Institute for Clinical and Economic Review (ICER)
- Memorial Sloan Kettering Cancer Center’s DrugAbacus
- The National Comprehensive Cancer Network (NCCN)
For example, the DrugAbacus is an online tool that patients, physicians, policy makers, and payers can use to compare and evaluate oncology treatment options. This tool weights user preferences based on a variety of health factors including safety, the burden of illness and innovation.
In upcoming years, we will likely see more organizations creating value frameworks tailored to the needs of their populations. To learn more about U.S-based value frameworks and their impacts on market access, check out this analysis published by the Pharma Phorum.
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