Study by Precision’s Sharma Named as One of Five Most Influential Articles of 2016
Precision would like to congratulate Abhishek Sharma, Associate Health Economist, Evidence Strategy & Generation, for his outstanding work as coauthor of an article appearing in the Journal of Pharmaceutical Policy and Practice, named one of their five most influential articles of 2016.
The first-of-its-kind study, Evaluating Availability and Price of Essential Medicines in Boston Area (Massachusetts, USA) Using WHO/HAI Methodology,” found prices in pharmacies in the Boston area for generic prescription medicines were 38 times higher than the international reference prices used as benchmarks by the World Health Organization (WHO), and 158 times higher for brand-name prescriptions for the same medicines.
The study also found consumers in Boston pay 11 to 21 times the international reference prices for over-the-counter medicines, even in pharmacy discount programs. The WHO target of four times international reference prices makes allowances for additional costs in the pharmaceutical supply chain.
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.