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.”

© 2024 MMIT
Angela Maas

Angela Maas

Angela has an extensive background of editing, reporting and writing for trade and consumer publications. She has written Radar on Specialty Pharmacy since she joined AIS Health in 2005 and has broad knowledge of the various issues at play within the space. She also has written for Spotlight on Market Access since its 2017 launch. Before joining AIS Health, she was managing editor at Employee Benefit News and Employee Benefit News Canada and managing editor at Hem Aware (a hemophilia publication), Lupus Living and Momentum (a multiple sclerosis publication). She has a B.A. in English and an M.A. in British literature from Arizona State University.

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