The New Drug Reimbursement Game
The New Drug Reimbursement Game

Author: Brita A.K. Pekarsky

Publisher: Springer

Published: 2014-10-09

Total Pages: 256

ISBN-13: 331908903X

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This comprehensive text presents a rigorous framework from within which regulators can respond strategically to the claim by the pharmaceutical industry that lower drug prices today lead to a loss for the population’s future health due to less innovation. It starts with a critical review of the empirical evidence of the return to consumers on their ongoing investment into high drug prices in order to increase future innovation. The implicit, critical and unrealistic assumption inherent in these studies is identified, namely that the health budget can be expanded to purchase drugs at higher prices without an opportunity cost, for example, the foregone benefits of alternative investments in health care infrastructure. Price effectiveness analysis (PEA), is introduced. PEA informs the question of how the innovative surplus from the new drug should be allocated between the manufacturer and the consumer so as to optimise society’s welfare. The method allows the decisions by the regulator and the firm to be analysed jointly by specifying the firm’s production and revenue functions in terms of the clinical innovation of a new drug; the incremental effect used in the summary metric of cost effectiveness analysis. An economic value of innovation that takes into account opportunity cost under conditions of economic efficiency in the health system is proposed: the health shadow price. The limitations of the non-strategic methods that currently inform the highly contested new drug subsidy game are presented and the relative strengths of PEA are demonstrated. Health technology assessment quantifies both the clinical innovation of a new drug and its financial impact on the health system. Cost effectiveness analysis tests the relationship between the incremental cost and incremental effect of a new drug for target patients, at a given price. PEA tests the relationship between the price of a new drug and the health of the whole population, now and into the future. It achieves this by taking into account current inefficiency in both resource allocation and the displacement process, and the relationship between price and future innovation.

The New Drug Reimbursement Game
The New Drug Reimbursement Game

Author: Brita A.K. Pekarsky

Publisher:

Published: 2015

Total Pages:

ISBN-13: 9783319089041

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This comprehensive text presents a rigorous framework from within which regulators can respond strategically to the claim by the pharmaceutical industry that lower drug prices today lead to a loss for the population's future health due to less innovation. It starts with a critical review of the empirical evidence of the return to consumers on their ongoing investment into high drug prices in order to increase future innovation. The implicit, critical and unrealistic assumption inherent in these studies is identified, namely that the health budget can be expanded to purchase drugs at higher prices without an opportunity cost, for example, the foregone benefits of alternative investments in health care infrastructure. Price effectiveness analysis (PEA), is introduced. PEA informs the question of how the innovative surplus from the new drug should be allocated between the manufacturer and the consumer so as to optimise society's welfare. The method allows the decisions by the regulator and the firm to be analysed jointly by specifying the firm's production and revenue functions in terms of the clinical innovation of a new drug; the incremental effect used in the summary metric of cost effectiveness analysis. An economic value of innovation that takes into account opportunity cost under conditions of economic efficiency in the health system is proposed: the health shadow price. The limitations of the non-strategic methods that currently inform the highly contested new drug subsidy game are presented and the relative strengths of PEA are demonstrated. Health technology assessment quantifies both the clinical innovation of a new drug and its financial impact on the health system. Cost effectiveness analysis tests the relationship between the incremental cost and incremental effect of a new drug for target patients, at a given price. PEA tests the relationship between the price of a new drug and the health of the whole population, now and into the future. It achieves this by taking into account current inefficiency in both resource allocation and the displacement process, and the relationship between price and future innovation.

Health Economics from Theory to Practice
Health Economics from Theory to Practice

Author: Simon Eckermann

Publisher: Springer

Published: 2017-03-20

Total Pages: 339

ISBN-13: 3319506137

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This book provides a robust set of health economic principles and methods to inform societal decisions in relation to research, reimbursement and regulation (pricing and monitoring of performance in practice). We provide a theoretical and practical framework that navigates to avoid common biases and suboptimal outcomes observed in recent and current practice of health economic analysis, as opposed to claiming to be comprehensive in covering all methods. Our aim is to facilitate efficient health system decision making processes in research, reimbursement and regulation, which promote constrained optimisation of community outcomes from a societal perspective given resource constraints, available technology and processes of technology assessment. Importantly, this includes identifying an efficient process to maximize the potential that arises from research and pricing in relation to existing technology under uncertainty, given current evidence and associated opportunity costs of investment. Principles and methods are identified and illustrated across health promotion, prevention and palliative care settings as well as treatment settings. Health policy implications are also highlighted.

Drug Games
Drug Games

Author: Thomas M. Hunt

Publisher: University of Texas Press

Published: 2011-01-15

Total Pages: 233

ISBN-13: 0292739575

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On August 26, 1960, twenty-three-year-old Danish cyclist Knud Jensen, competing in that year's Rome Olympic Games, suddenly fell from his bike and fractured his skull. His death hours later led to rumors that performance-enhancing drugs were in his system. Though certainly not the first instance of doping in the Olympic Games, Jensen's death serves as the starting point for Thomas M. Hunt's thoroughly researched, chronological history of the modern relationship of doping to the Olympics. Utilizing concepts derived from international relations theory, diplomatic history, and administrative law, this work connects the issue to global political relations. During the Cold War, national governments had little reason to support effective anti-doping controls in the Olympics. Both the United States and the Soviet Union conceptualized power in sport as a means of impressing both friends and rivals abroad. The resulting medals race motivated nations on both sides of the Iron Curtain to allow drug regulatory powers to remain with private sport authorities. Given the costs involved in testing and the repercussions of drug scandals, these authorities tried to avoid the issue whenever possible. But toward the end of the Cold War, governments became more involved in the issue of testing. Having historically been a combined scientific, ethical, and political dilemma, obstacles to the elimination of doping in the Olympics are becoming less restrained by political inertia.

Cost Effectiveness in Health and Medicine
Cost Effectiveness in Health and Medicine

Author: Peter J. Neumann

Publisher: Oxford University Press

Published: 2017

Total Pages: 537

ISBN-13: 0190492937

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CEAs (cost-effectiveness analyses) are used by decision makers in the health sector to make enlightened evaluations and this book provides an in depth look at how to evaluate the evaluator. The book is aimed specifically at Public health specialists.

The $800 Million Pill
The $800 Million Pill

Author: Merrill Goozner

Publisher: Univ of California Press

Published: 2005-10-10

Total Pages: 308

ISBN-13: 9780520246706

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"Goozner shows how drug innovation is driven by dedicated scientists intent on finding cures for diseases, not by pharmaceutical firms, whose bottom line often takes precedence over the advance of medicine. Stories of a university biochemist who spent twenty years searching for single blood protein that later became the best-selling biotech drug in the world, a government employee who discovered the causes for dozens of crippling genetic disorders, and the Department of Energy-funded research that made the Human Genome Project possible - these accounts illustrate how medical breakthroughs actually take place.".

Re-Engineering Clinical Trials
Re-Engineering Clinical Trials

Author: Peter Schueler

Publisher: Academic Press

Published: 2014-12-16

Total Pages: 383

ISBN-13: 0128007907

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The pharmaceutical industry is currently operating under a business model that is not sustainable for the future. Given the high costs associated with drug development, there is a vital need to reform this process in order to provide safe and effective drugs while still securing a profit. Re-Engineering Clinical Trials evaluates the trends and challenges associated with the current drug development process and presents solutions that integrate the use of modern communication technologies, innovations and novel enrichment designs. This book focuses on the need to simplify drug development and offers you well-established methodologies and best practices based on real-world experiences from expert authors across industry and academia. Written for all those involved in clinical research, development and clinical trial design, this book provides a unique and valuable resource for streamlining the process, containing costs and increasing drug safety and effectiveness. - Highlights the latest paradigm-shifts and innovation advances in clinical research - Offers easy-to-find best practice sections, lists of current literature and resources for further reading and useful solutions to day-to-day problems in current drug development - Discusses important topics such as safety profiling, data mining, site monitoring, change management, increasing development costs, key performance indicators and much more