Posted by Michael Wonder on 17 Oct 2019
Some say a non-profit research group unfairly influences drug prices
16 October 2019 - Have you ever wondered how pharmaceutical companies decide whether that pill you take costs $3 or $3,000?
Or why some new drug, or a potentially life-enhancing procedure, may not be covered under your insurance plan?
In the U.S., the FDA determines whether a drug or treatment is safe enough for patients. However, the agency doesn’t have any input on the cost. That decision is often based on recommendations by a nonprofit research group you may not be familiar with — the Institute for Clinical and Economic Review, or ICER.
It's a 13-year-old, independent, nonpartisan, nonprofit research organisation in Boston, funded, in part, by health insurance companies. Its primary funder is the Laura and John Arnold Foundation. ICER calls itself "the nation's independent watchdog on drug pricing."
