Twin pressures of global economic meltdown and spiraling healthcare costs have forced several countries to adopt a conservative approach towards pricing and reimbursement of the cost of drugs. The rising cost of medicines, along with an unhealthy lifestyle of people in a number of countries, particularly developed countries, the burden on the healthcare systems to provide quality healthcare to each citizen is increasing. This increase directly impacts the governments’ ability to provide quality healthcare to its citizens, especially in countries where the healthcare system is largely government funded.
Â
For more information, please click or add the below link to your browser:
Â
Different mechanisms, including reference pricing, cost-benefit analysis, health technology assessments and many others are being employed to bring down the price of prescription, as well as generic drugs. In addition, innovative pricing mechanisms, such as the Step Price System will continue to exert downward pricing pressure on pharmaceutical companies in the future.
Â
Governments, across the world, are moving towards economic evaluations as a tool to measure the economic impact of the drug. In the last few years, the pressure from various reimbursement groups, such as managed care organizations, pharmacy benefit managers, payers and government reimbursement agencies have increased due to rising costs and evidence of few medicines charging premium pricing despite the absence of equivalent therapeutic benefits.
Economic evaluation helps the government agencies to examine the price of drugs with respect to the therapeutic benefits they provide and reimburse the cost of the drug accordingly. These evaluations also help the pharmaceutical companies to get their innovative drugs listed in the formularies, justify the premium pricing and also provide substantial data to help their sales force influence the physicians. While such evaluations prove to be beneficial for the innovative drugs that can receive favorable reimbursements, it could prove economically unfavorable for the drugs that do not provide substantial benefits compared to its costs. However, economic evaluations have enabled significant cost rationalization for the developed, as well as developing countries.
Â
For more information, please click or add the below link to your browser:
Â
GBI Research, the leading business intelligence provider, has released its latest research, “Pharmaceutical Pricing and Reimbursement - Reference Pricing and Economic Evaluations Will Dominate Future Pricing and Reimbursement Strategiesâ€. It provides key data, information and analysis of the major issues affecting the pricing and reimbursement decisions across the globe. It discusses the major changes that have been observed at the global level. The report also covers issues specific to particular geographies. The geographies covered include the US and countries within Western Europe, Asia-Pacific, Central and Eastern Europe, and Scandinavia. It covers pricing and reimbursement mechanisms in different countries as well as the impact of issues on the key stakeholders. The report puts a special emphasis on orphan drugs since the pricing and reimbursement patterns for orphan drugs are different from the traditional mechanisms.
Â
For more information, please click or add the below link to your browser:
Â
Or visit our report store: http://www.globalbusinessintelligence.com
