COVID Is Heating Up Payer Focus on Drug Pricing, Value

With the COVID-19 pandemic affecting a variety of health care stakeholders, the cost of these services is becoming even more important. Payers tightening their budgets are trying to make sure that they are truly paying for value. But that’s easier said than done. All industry stakeholders, including pharma companies, should work to make changes in the health care system to bring value to the forefront of decision making, maintain industry experts.

Pointing out that people may never agree on the issue of whether prices for innovative drugs are too high, Kate Dion, value communications lead at 3D Communications, a company that provides strategic regulatory and value communications services to pharmaceutical, device and biologic companies, maintained that “what’s really at stake, and COVID-19 is pushing this into sharp focus, is how urgently we need to get medicines to patients. And not just medicines for the pandemic. The challenge is formidable. All at the same time, we need to make medicines more accessible to patients, incentivize scientific innovation and keep investors happy.”

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