According to a survey conducted by ICON in July 2019, prescription drug cost effectiveness analyses by the Institute for Clinical and Economic Review (ICER) are playing an increasingly important role in price negotiations.
The following survey results reflect responses from 31 payers, including managed care organisations, pharmacy benefit managers and integrated delivery networks, each with a mean 6m lives covered:
- 62% of respondents reported they had implemented value-based pricing in the past five years, with the three most promising areas of application including drugs for metabolic disease, immunology and oncology.
- 81% of respondents said they were at least slightly familiar with ICER’s efforts to adapt its value assessment framework for evaluating transformative therapies including cures.
- Nearly 65% of respondents believe ICER cost effectiveness reviews are likely or extremely likely to function as a benchmark in price negotiations.
- All respondents said they believe ICER’s influence in the pharmaceutical industry is likely to grow in the next five years, with 35.5% signalling ICER will be much more influential.
- More than 90% of respondents agreed that an independent, non-governmental, third-party organisation that assesses the value of healthcare products and interventions is needed in the US in an effort to control healthcare spend and provide better patient outcomes. However, some payers expressed concern that ICER is becoming overly influenced by pharma companies.
Please download our whitepaper "Payer Reliance on ICER Assessments and Perceptions on Value-Based Pricing" for full survey results.Download Whitepaper
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This blog is an edited version of “ICER Analyses Increasingly Guide US Price Negotiations, Payers Report” which was published on 7th October 2019 on Informa Pharma Intelligence website. To view the full article, please visit https://pink.pharmaintelligence.informa.com/