Institute for Clinical and Economic Review President and Founder Steve Pearson says the health industry needs to “think in different ways about how we price things.”
Pearson made the comments during a recent interview on WBUR’s BioBoom in which he spotlighted value-based pricing.
“So we all know that we are the wealthiest society, and we should pay a lot for health care, and certainly for great, new innovations,” Pearson says. “But ultimately resources are limited in some way, so if we can scale the price in a more proportional fashion, we think we can do a better job of distinguishing when we’re getting a great value, and when we’re, frankly, getting ripped off.”
Randy Burkholder, Pharmaceutical Research and Manufacturers of America vice president of policy and research, says the industry sees “a lot of opportunity” in better organizing the health care sector to deliver more robust value.
” … We are at such an exciting time and the science of then translating that science into better treatments and potentially even cures … often for very small patient populations,” Burkholder said. “That’s an important challenge. That’s the right challenge.”