Posted by Michael Wonder on 06 Nov 2018
Should a drug’s value depend on the disease or population it treats? Insights from ICER’s value assessments
6 November 2018 - The ICER, a private, nonprofit organisation that evaluates the clinical and economic value of prescription drugs, continues to galvanise a national discussion about pharmaceutical pricing.
While the organisation has no formal regulatory or reimbursement authority, it issues influential reports that include a finding as to whether the featured drug’s price represents a low, intermediate, or high value proposition.
Surveys suggest that ICER reports can affect health insurers’ price negotiations and formulary management policies. Some drug companies have even reduced product prices to earn a more favourable designation by ICER. The New York State Medicaid program is attempting to use ICER’s findings to obtain a lower price for cystic fibrosis drugs. CVS just launched an initiative to develop a value-based formulary based on ICER analyses.
