Judging value for money and improving decision making

Market-Driven, Value-Based Advanced Commitment (MVAC) is a new mechanism to help re-direct private-sector R&D investments where they’re needed most. We propose to use MVAC to encourage investments in tuberculosis (TB), which affects 10 million people worldwide. In this blog post, we reflect on the first round of feedback on our consultation draft on MVAC.

Increasingly, scientific advances are delivering new medicines that deliver improved survival and quality of life across multiple treatment indications. Indication-Based Pricing (IBP) has been proposed as a way to better link price with value. In this short Discussion Paper, we outline the major issues including the potential benefits of IBP, potential drawbacks, and considerations for implementation. We then ask for your views. To submit your thoughts, please access the survey which accompanies the Discussion Paper. Consultation closing date: Monday 24th June 2019.

Cole, A., Towse, A. and Zamora, B.

Briefing
May 2019

Increasingly, scientific advances are delivering new medicines that deliver improved survival and quality of life across multiple treatment indications. Indication-Based Pricing (IBP) has been proposed as a way to better link price with value. In this short Discussion Paper, we outline the major issues including the potential benefits of IBP, potential draw-backs, and considerations for implementation. We then ask for your views.

To submit your thoughts, please access the survey which accompanies the Discussion Paper.

Consultation closing date: Monday 24th June 2019.

Meet some of the OHE team at the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) 2019 conference in New Orleans, 18-22 May.

Judging Value for Money and Improving Decision-Making

Efficient decisions about the allocation of health care budgets require the assessment of the effects of health care interventions and of the value for money that they provide. Decision-making processes leading to funding decisions should be structured and evidence-based.

OHE leads a substantial programme of research internationally relating both to policy and to the development of methodologies in support of robust and systematic value assessments in health care systems.

Our research on this theme addresses questions such as:

A new paper by OHE and Health Education England on the value of international volunteers’ experience to the NHS has been published in Globalization and Heath.

A new OHE Research Paper reviews a recent report on cancer pricing published by the World Health Organization. The authors argue that the report fails to promote mechanisms that are key to efficient pricing and use of cancer medicines. The Research Paper outlines some for addressing these shortcomings.

Brassel, S., Rozanova, O. and Towse, A.

Research Paper
April 2019

The WHO Technical Report: Pricing of cancer medicines and its impacts (“the Report”) was published in order to address requests made in a resolution adopted by the 2018 Seventieth World Health Assembly WHA70.12 on Cancer prevention and control in the context of an integrated approach.

Transparency as a principle of good governance is not the same as transparency for improving access by lowering prices. In fact, the former often carries an opportunity cost on the latter. Developing country markets are, however, dominated by generic products and encouraging competition through sharing prices makes sense if capacities are there to use the data to inform procurement decisions and protect against collusion.

Report does not recommend price transparency for on-patent medicines, but buyers should share multi-source product price data among themselves. Transparency of the procurement process encourages bidders. In many cases, referencing processes and institutions may be a safer bet than trying to copy each other’s prices.

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