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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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As the US health care system shifts from a fee-for-service to a value-based approach, In Vivo asks Don May, EVP for Payment and Healthcare Delivery Policy at AdvaMed, about the association's renewed push behind the value frameworks and what he hopes the industry's drive to build on patient engagement, among other aims, will achieve.
The current system of paying for medical technology includes perverse incentives, which means that the full benefits that innovation can deliver are not being accessed. So says AdvaMed chairman Nadim Yared, who believes the US association's new "value framework" is the way forward for medtech stakeholders. A key element is ensuring that all players speak a common language – one that also recognizes and promotes appropriate ways of paying for innovation.
Medtronic's outcomes-based insulin pump supply deal with Aetna is the latest example of the medtech industry's shift toward value-based care.
The Boston Consulting Group convened a roundtable of market access executives from leading biopharma companies in the US, Europe and Japan to reach consensus on how to finance the cost of health care. The group's working paper considers various approaches to financing high-quality care, with an initial emphasis on advocating for change among payers in Europe.
Cell and gene therapies that have the potential to cure require new approaches to value assessment, payment and financing. In the second of a series, the Alliance for Regenerative Medicine identifies potential payment models, highlights key stakeholder concerns and identifies the barriers that must be addressed to enable their integration across the health care system.
Although stakeholders are interested in value-based models that link a drug’s performance to emerging evidence of improved patient outcomes, such agreements are difficult to implement and too limited in scope to drive a shift to value-based reimbursement. The authors suggest a new, structured approach to bring these contracts into the mainstream, thus transforming product reimbursement and fueling the shift from volume to value.
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