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The drug industry and patient advocacy groups have been leery about the imposition of price controls or restrictions on reimbursement for drugs that treat orphan diseases. A review of formulary data from the beginning of the century shows that there has been some pushback from payers about these high-priced drugs, but patient access has not been severely hampered to date.
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On October 5, In Vivo convened a group of top market-access specialists and industry and investment analysts to consider a central strategic challenge facing all innovators in biopharma: how to pay for the next wave of cures. Finding the answer first depends on a rebranding of the function itself – it’s not market access to products; it’s patient access to progress.
As controversy continues over pharmaceutical pricing, more drugmakers are eyeing deals that peg health plan cost to outcomes to boost volume and win formulary placement. But these deals are challenging to construct and to date there is little evidence that they reduce costs for patients.
Too risky? Too costly? Global medtech innovators have tended to look at Japan as a market they might graduate to after cracking the US and EU. But Japan has changed in recent years and offers opportunities to medtech companies with products for unmet needs, as long as those firms are willing to commit themselves to understanding the dynamics of the market and its unique aspects.
Driven by increasingly cost-conscious payers, health care is shifting from a volume-based model to “value-based care,” now the latest buzzword. In response, the medical device industry has started employing new commercial strategies.
Just as health care payment models differ from those of any other industry, so within health care do those for digital health solutions differ from all other branches. Digital providers say a fundamental change in the way care is provided and reimbursed is called for, in the knowledge that success in this market will depend on interaction with and by patients: that's not yet happening at scale, but it must, says Philips chief innovation and strategy officer Jeroen Tas.
Recently launched drugs aren't meeting sales expectations and that's bad news for an industry whose revenues come from new products. Bain & Company surveyed senior launch executives to find the factors that lead to a successful launch.
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