Precision’s Blandford in STAT First Opinion: The time for expansion of value-based drug reimbursement is now
Precision’s Larry Blandford offers a new commentary in STAT First Opinion, insisting that payers and the pharmaceutical industry come together to develop a value-based drug reimbursement system. He suggests taking a page from the playbook developed for electronic prescribing as the key to moving forward.
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By: Jason Shafrin, PhD Sr. Director, Policy and Economics and Jacki Chou, MPL Senior Director, Policy and Economics The recent announcement that CVS Caremark will use value-based metrics to inform formulary design at first appears a step in the right direction. However, using value measurements from a single nongovernmental organization—the Institute for Clinical and Economic Review (ICER)—based on a limited picture of treatment value may be problematic. Using this single assessment of value in an effort solely to exclude drugs from a major insurance formulary is even more worrisome and fails to recognize the heterogeneity in patient clinical needs and preferences.