Promises and Pitfalls in Calculating Drug Value
Following the logic of value-based purchasing, drugs with promise of extending life and treating rare diseases should have a higher purchasing value than those with unclear clinical efficacy results and economic benefits. Sounds reasonable. However, what the healthcare system is lacking is a straightforward method of assessing which drugs are both efficacious and cost-conscious.
To address this need for standardization of the clinical decision making process, The National Pharmaceutical Council is developing “Guiding Practices for Patient-Centered Value Assessment Frameworks”. Leading the pack is Steven Pearson’s Institute for Clinical and Economic Review, known as ICER.
To read more about valuing breakthrough formulas, click here.
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