Innovative contracts drive access for patients and value for the system

Our health care system is far from perfect, but there are solutions that will help address patient affordability concerns without sacrificing innovation, access or quality of care. For example, biopharmaceutical companies are working with other health care stakeholders to develop new ways to pay for medicines through innovative, results-based contracts that can improve affordability and more tightly link the price of medicines to the outcomes they deliver for patients. Solutions like innovative contracts support continued access and innovation in health care in the United States by building on the current system and strengthening market competition – rather than importing the flawed policies of foreign governments where cutting costs often comes at the expense of patient care quality and choice.Innovative contracts are flexible payment arrangements between biopharmaceutical companies and insurers that can generally be divided into three categories: (1) results-based contracts, (2) alternative financing arrangements or (3) a hybrid of those two models. To date, insurers and biopharmaceutical companies have announced75 such partnerships – covering nearly 30 conditions– and theircontinued use promises to deliver even greater value to the health care system in the future.
Source: The Catalyst - Category: Pharmaceuticals Authors: Tags: Access The Value Collaborative Source Type: news