The New Drug Reimbursement Game

The New Drug Reimbursement Game
Author :
Publisher : Springer
Total Pages : 256
Release :
ISBN-10 : 9783319089034
ISBN-13 : 331908903X
Rating : 4/5 (34 Downloads)

Book Synopsis The New Drug Reimbursement Game by : Brita A.K. Pekarsky

Download or read book The New Drug Reimbursement Game written by Brita A.K. Pekarsky and published by Springer. This book was released on 2014-10-09 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 Related Books

The New Drug Reimbursement Game
Language: en
Pages: 256
Authors: Brita A.K. Pekarsky
Categories: Medical
Type: BOOK - Published: 2014-10-09 - Publisher: Springer

DOWNLOAD EBOOK

This comprehensive text presents a rigorous framework from within which regulators can respond strategically to the claim by the pharmaceutical industry that lo
The New Drug Reimbursement Game
Language: en
Pages:
Authors: Brita A.K. Pekarsky
Categories:
Type: BOOK - Published: 2015 - Publisher:

DOWNLOAD EBOOK

This comprehensive text presents a rigorous framework from within which regulators can respond strategically to the claim by the pharmaceutical industry that lo
Drug Games
Language: en
Pages: 233
Authors: Thomas M. Hunt
Categories: Sports & Recreation
Type: BOOK - Published: 2011-01-15 - Publisher: University of Texas Press

DOWNLOAD EBOOK

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
Commercializing Successful Biomedical Technologies
Language: en
Pages: 457
Authors: Shreefal S. Mehta
Categories: Business & Economics
Type: BOOK - Published: 2022-10-31 - Publisher: Cambridge University Press

DOWNLOAD EBOOK

Transform your ideas into commercial products through this updated second edition, with real-world case studies and industry tips.
Health Economics from Theory to Practice
Language: en
Pages: 339
Authors: Simon Eckermann
Categories: Business & Economics
Type: BOOK - Published: 2017-03-20 - Publisher: Springer

DOWNLOAD EBOOK

This book provides a robust set of health economic principles and methods to inform societal decisions in relation to research, reimbursement and regulation (pr