Back To Schedule
Sunday, June 18 • 8:30am - 12:00pm
#24: The Evolving Role of Payers in Drug Development: Pricing, Pharmacoeconomics, and Health Technology Assessment

Sign up or log in to save this to your schedule, view media, leave feedback and see who's attending!

Component Type: Tutorial
CE: CME 3.25; IACET 3.25; RN 3.25

Payers play an important role in both national and global health care systems: their decision-making signals to manufacturers their likelihood to support the R&D required for innovative, new medicines. Only a small number of innovative medicines are approved annually. The large proportion of new drug candidates fail during the development, and the average R&D cost per approved new molecular entity is increasing. Providers and payers can be thought of as agents acting on behalf of patients and their covered beneficiaries. Payers are critical in expressing the willingness of health care systems to provide funds to support innovation. Manufacturers must understand, monitor, and anticipate the evolving payer environment to increase the likelihood of regulatory and commercial success for new products. Key tools such as pharmacoeconomic evaluation of cost-effectiveness and budget impact, as well as important processes such as health technology assessment are used in many developed countries. Understanding their varying role in different jurisdictions is critical for pricing and market access negotiations. This short course, which is hosted with the International Society for Pharmacoeconomics and Outcomes Research (ISPOR), will introduce participants to the basic economics of drug development, pricing, contracting, and market access. It will address commonly used economic concepts, such as demand, supply, willingness to pay, monopoly, intellectual property, and value. Practical observations will be made on the similarities and differences in how health care systems approach these pricing and access practices and decisions, with an emphasis on the implications for stakeholder incentives. Examples will be used to illustrate key concepts in both routine and special cases.

Who should attend?

This short course is designed for industry professionals and academics with an interest to learn more about the economic perspective on drug development, incentives for innovation, and how different countries grapple with these difficult health sector resource allocation decisions.

Learning Objectives

  • Explain what makes innovative medicines unique economic inputs into population health including how the patent system relates to the financing of global R&D
  • Discuss in what way prices for innovative medicines are established, how this differs by system, as well as the evolving impact of pharmacoeconomics and health technology assessment
  • Describe how the complex global network of public and private payers judge the value of innovative medicines

  • Speakers
    avatar for Louis Garrison

    Louis Garrison

    Professor, Pharmaceutical Outcomes Research and Policy Program, University of Washington
    Dr. Garrison is Professor in the Pharmaceutical Outcomes Research and Policy Program in the School of Pharmacy, and Adjunct Professor in the Departments of Global Health and Health Services at the University of Washington, where he joined the faculty in 2004. He also co-directs the... Read More →
    avatar for Jack Mycka

    Jack Mycka

    Global President and CEO, Medical Marketing Economics LLC (MME)
    As MME’s Global President & CEO, Jack provides critical global support for strategic marketing and pricing decisions to clients in the biotech and pharmaceutical industries. As a recognized expert consultant since 2001, he has successfully completed engagements encompassing many... Read More →

    Sunday June 18, 2017 8:30am - 12:00pm CDT
    S403ab McCormick Place 2301 South Martin Luther King Jr. Drive, Gate 4 Chicago, IL 60616
      Short Course, Tutorial |   11: Quality, Tutorial |   01: Data-BigData-eHealth, Tutorial
    • format json
    • Featured Topics Real World Evidence
    • Credit Type CME, IACET, RN
    • Tags Tutorial