HealthEconomics.Com https://www.healtheconomics.com Connected. Community. Fri, 15 Jan 2021 20:13:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.6 Department of Veterans Affairs Paid About Half as Much as Medicare Part D for Selected Drugs in 2017 https://www.healtheconomics.com/industry-news/department-of-veterans-affairs-paid-about-half-as-much-as-medicare-part-d-for-selected-drugs-in-2017 Fri, 15 Jan 2021 21:10:11 +0000 https://www.healtheconomics.com/?p=116212 new analysis from the US Government Accountability Office shows that, in 2017, the Department of Veterans Affairs paid prescription drug prices that were on average 54% lower than what was paid by Medicare, which by law is not currently allowed to negotiate down the prices that drugmakers choose to set. The GAO’s analysis spans both brand and generic drugs, and its calculations are based on the net prices paid by the government, after accounting for all rebates and other concessions. On more than 100 specific drugs, the VA’s prices were at least 75% cheaper than Medicare’s prices. Let that sink in.

Importantly, 2017 was also the first year the VA began leveraging ICER’s drug assessments in its pricing negotiations with drugmakers to provide greater value to Veterans and taxpayers. While at the time, the pharmaceutical industry sounded alarms that this VA/ICER partnership could simply be “… a means to justify an even more limited and cost-constrained formulary,” comprehensive data from the past three years reveal that the VA has never used a negative ICER report to limit access to a medication, but instead has used our work to achieve better pricing from manufacturers, while expanding access to the treatments that are most valuable to Veterans and their families. Read more here.

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Fierce JPM Week Partner Content Hub https://www.healtheconomics.com/industry-news/fierce-jpm-week-partner-content-hub Fri, 15 Jan 2021 20:09:18 +0000 https://www.healtheconomics.com/?p=116209 This is a different approach to enabling our partners to share solutions and stories with you in a virtual environment. Here at Fierce JPM Week attendees can engage with digital assets in a way that is easy to navigate, learn from and share with peers and colleagues. This hub provides access to partner videos, webinars and research exploring biopharma’s ongoing work to combat COVID-19—and to fight the world’s other diseases at the same time. We hope you enjoy it, and remember to #befierce! On-Demand sessions will be posted as soon as they become available. Read more here.

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New Book Release by RJG Arnold: Pharmacoeconomics: From Theory to Practice https://www.healtheconomics.com/industry-news/new-book-release-by-rjg-arnold-pharmacoeconomics-from-theory-to-practice Thu, 14 Jan 2021 22:07:25 +0000 https://www.healtheconomics.com/?p=116162 An understanding of the basic principles of pharmacoeconomics is essential if stakeholders in the healthcare arena hope to meet the burgeoning challenges posed by shrinking budgets, healthcare rationing, medication shortages, and an aging global population. The 2nd edition of Pharmacoeconomics: From Theory to Practice, edited by Renée J.G. Arnold, focuses on how these basic principles can be correctly applied to facilitation of drug development, rationing, patient segmentation, disease management, and pricing model development. Hailed by Professor Michael Drummond of University of York as an “excellent introduction for those new to the field”, the concepts presented in this updated volume will equip decision makers with the tools necessary to leverage resources more rationally and efficiently, thereby avoiding the need to restrict access to necessary services.

This new edition provides an excellent introduction to the rapidly evolving methods and application of pharmacoeconomics and makes an ideal reference for students, pharma industry professionals, and other health care professionals.

Key Features:

  • Introduces the major concepts and principles of Pharmacoeconomics
  • Gives updated information about pharmacoeconomic models, value-based pricing, novel modelling methodologies and international utilization of these modalities in government, the pharmaceutical industry, and health care settings
  • Demonstrates the full range of ethical and moral issues, as well as overall public health and commercial concerns that are often involved in decisions entailing pharmacoeconomic issues
  • Presents both theory and methodology discussions, including real-world examples, in each chapter

Purchase the book here.

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New Data Show Retail Medicine Prices Fell in 2019 https://www.healtheconomics.com/industry-news/new-data-show-retail-medicine-prices-fell-in-2019 Thu, 14 Jan 2021 16:30:12 +0000 https://www.healtheconomics.com/?p=116145 In 2019, retail prescription medicine prices declined by 0.4%, on average, according to National Health Expenditures (NHE) data from the Centers for Medicare & Medicaid Services (CMS) published recently in Health Affairs. While retail prescription medicine spending grew 5.7% that same yearthis increase was due to more patients getting the medicines they need, not higher prices.

Other key findings include:

  • In 7 of the last 10 years, retail medicine spending grew more slowly than total health care spending and spending on retail medicines accounted for less than 10% of total health care spending growth over the past decade.
  • Since 2000, retail medicine spending has grown, on average, 3.9% per year, below the average annual growth rate of spending on hospital care (4.5%) and total health care spending (4.3%).
  • Hospital spending increased 6.2% in 2019 reaching $1.2 trillion and continuing to account for nearly one third of total health care spending.

Read more here.

(Source: Katie Koziara; PhrmA; January 13, 2021)

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Pandemic Propels Health Systems to Mull Acquisitions, Partnerships https://www.healtheconomics.com/industry-news/pandemic-propels-health-systems-to-mull-acquisitions-partnerships Thu, 14 Jan 2021 15:30:50 +0000 https://www.healtheconomics.com/?p=116143 Nearly a year after the first confirmed case of COVID-19 in the U.S., some of the nation’s largest health systems made a case for the need to accelerate toward value-based arrangements and potentially acquiring or partnering with health plans to become an integrated system. Amid new records for deaths and cases from the novel coronavirus, executives gathered virtually for J.P. Morgan’s 39th annual healthcare conference, which typically draws prominent healthcare leaders to San Francisco at the start of each year. Read more here.

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Gaps in Health Data are Barrier to Health Equity https://www.healtheconomics.com/industry-news/gaps-in-health-data-are-barrier-to-health-equity Thu, 14 Jan 2021 15:00:51 +0000 https://www.healtheconomics.com/?p=116139 COVID-19 has laid bare racial disparities in the United States health system. For example, COVID-19 cases among Native Hawaiian / Pacific Islanders are up to 2.5 times higher as compared to whites. Similarly, the rate of COVID-19 related deaths among Black Americans and American Indian/Alaskan Natives are twice as high as whites. A recent PhRMA paper finds that gaps in information on race, ethnicity and health are barriers to achieving health equity for many groups.

While many have rightly expressed alarm or surprise at these disparities in light of COVID-19, the sad truth is the alarm bell has been ringing for decades. It has been 35 years since the U.S. Department of Health and Human Services released the landmark Report of the Secretary’s Task Force on Black and Minority Health (Heckler Report), which documented health disparities and excess deaths for minority populations. Since then, great medical and technological milestones have been achieved, but the gap in health outcomes remains. Systemic racism has persisted, including the devaluing of Black and Brown lives. It affects everything from the quality of treatments patients receive, to the types of data that get collected, to the actions that policymakers are willing to take. Read more here.

(Source: Emily Donaldson; PhrmA; 1/14/21)

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Cerner Aspires to Build $1B Data Business in Pharma Market https://www.healtheconomics.com/industry-news/cerner-aspires-to-build-1b-data-business-in-pharma-market Thu, 14 Jan 2021 14:39:23 +0000 https://www.healtheconomics.com/?p=116136 Building on its acquisition of clinical research company Kantar Health, health IT giant Cerner is setting its sights on building a $1 billion data business for the healthcare and life sciences industries. Cerner announced plans in December to acquire the health division of Kantar Group, which provides data, analytics and research to the life sciences industry, for $375 million. The company is looking to create a leading data insights and clinical research platform and wants to harness data to improve the safety, efficiency and efficacy of clinical research across life sciences, pharmaceuticals and healthcare at large. Read more here.

(Source Heather Landi; Fierce Healthcare; 1/13/21)

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[Podcast] Creating an HEOR Function Within Medical Affairs https://www.healtheconomics.com/industry-news/podcast-creating-an-heor-function-within-medical-affairs Wed, 13 Jan 2021 22:30:21 +0000 https://www.healtheconomics.com/?p=116093 In this episode of the MAPS Elevate podcast series, we explore Health Economics and Outcomes Research (HEOR), looking at why a Medical Affairs organization needs an HEOR function and how to build this capability within Medical Affairs. This podcast is brought to you by AlphaGroup an independent medical communications agency founded on precision, integrity and passion. Access the podcast here.

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Implications of Price Transparency for Providers and Patients as New Rules Go into Effect https://www.healtheconomics.com/industry-news/implications-of-price-transparency-for-providers-and-patients-as-new-rules-go-into-effect Wed, 13 Jan 2021 21:55:11 +0000 https://www.healtheconomics.com/?p=116091 A new KFF analysis examines how new federal rules on price transparency for health services may affect patient decision-making and market pricing. As of January 1, 2021, the United States Department of Health and Human Services requires that hospitals publish payer-negotiated rates for common services on their websites. A second set of rules, which requires insurers to provide rate and cost-sharing estimates for common services, is scheduled to go into effect in 2023. Read more here.

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STaRT-RWE: Structured Template for Planning and Reporting on the Implementation of Real World Evidence Studies https://www.healtheconomics.com/industry-news/start-rwe-structured-template-for-planning-and-reporting-on-the-implementation-of-real-world-evidence-studies Wed, 13 Jan 2021 21:30:11 +0000 https://www.healtheconomics.com/?p=116089 In alignment with the International Council of Harmonization’s strategic goals, a public-private consortium has developed a structured template for planning and reporting on the implementation of real world evidence (RWE) studies of the safety and effectiveness of treatments. The template serves as a guiding tool for designing and conducting reproducible RWE studies; set clear expectations for transparent communication of RWE methods; reduce misinterpretation of prose that lacks specificity; allow reviewers to quickly orient and find key information; and facilitate reproducibility, validity assessment, and evidence synthesis. The template is intended for use with studies of the effectiveness and safety of medical products and is compatible with multiple study designs, data sources, reporting guidelines, checklists, and bias assessment tools. Read more here.

(Source: Wang Shirley V, Pinheiro Simone, Hua Wei, Arlett Peter, Uyama Yoshiaki, Berlin Jesse A et al. STaRT-RWE: structured template for planning and reporting on the implementation of real world evidence studies BMJ 2021; 372 :m4856)

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