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Leveraging Pharmacy Research for Better Value

Posted By Louise Probst, Wednesday, November 7, 2018
It is well known that U.S. health care spending is twice that of other countries while still obtaining worse results. Researchers at the Harvard T.H. Chan School of Public Health took a closer look and found that these differences are driven primarily by higher prices. Americans have roughly the same number of doctor visits and hospital stays as people in other affluent nations; we just pay considerably more for treatments, especially for drugs. In 2016, the U.S. spent an average of $1,443 per person on pharmaceutical drugs, compared to the range of $466 to $939 in other nations.

Comparative effectiveness research is a rigorous and objective process which evaluates the clinical and financial benefits and harms of medications, treatments, and therapies. It is central to determining coverage and reimbursement decisions in other nations, but its use in the United States has been rare. However, this is changing now that the Institute for Clinical and Economic Review (ICER) , the "watchdog" of U.S. drug prices, has taken aim.
 
At the next BHC Member Meeting on November 28th, Dr. Steve Pearson, Founder and President of ICER, will discuss the organization's current and future work, while also sharing insights on ways that employers can leverage this research to drive more effective clinical outcomes and reduce overspending on drugs. I hope that you will join us for this meeting. To register, please click here.

 

Warm regards,

Louise Probst
BHC Executive Director

 

 

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