A Case Study on Drug Pricing: How Do We Reign in Costs Without Risking Innovation?
Even in these politically diverse times, most will agree that our president and Congress should prioritize lowering the costs of prescription drugs. However, a major challenge lies in ensuring that any implemented policy actually reins in costs without constraining medical innovation that saves and improves lives. This panel of leading women executives will attack this puzzle from different angles and shed insights on potential steps forward.
- Understanding the nuts and bolts of why companies are pricing products the way they are
- Revisiting the idea of Hatch-Waxman and BPCIA Reform: discussing the pros and cons
- Examining the rising trend in Value-Based Pricing of products as an alternative to the price-per-dose approach
- Exploring the use of outcomes-based pricing, indication-based pricing, drug licensing and money back guarantees
- Exploring the latest initiatives to (i) encourage competition among generic drug manufacturers, (ii) introduce transparency to the drug-distribution system, and (iii) target global pricing to spread the burden more evenly around the world
- Examining the roadblocks (or perceived roadblocks) to effectively controlling drug prices
- Outlook for 2020 and beyond: How will the manufacturers, payers and regulators need to closely coordinate to fix this problem?