Order now and we’ll ship you the Thighmaster…and if you’re not satisfied, just return it within 14 days for a full refund. Money-back guarantees are almost a necessity for TV products, but what about for medications? Certainly not the norm, there have been some value-based contracts popping up in the pharma world. There’s a very interesting Forbes article written by former Pfizer global R&D President John LaMattina that lobbies for two major trade organizations (BIO and PhRMA) to pass resolutions that money-back guarantees become a formal practice with member companies. Wow, that would Shake Weight things up. LaMattina points to Amgen’s Repatha (LDL-C lowering) and Novartis’ new gene therapy Kymriah (CAR-T therapy), priced at $475,000/patient. Keep this on your radar, few things could change the healthcare landscape like widespread adoption of value-based pricing.
(Some) drugs are expensive. True. (Some) single-payer systems are struggling financially. True. Access to leading-edge products can be a challenge for patients in many healthcare environments. Also true. Reuters got hold of a roadmap from the European Federation of Pharmaceutical Industries and Associations (EFPIA) that discusses a plan that sounds a lot like pay-for-performance. Francois Bouvy, Director of Market Access at EFPIA, wrote “If a product does not deliver on its clinical promise, society should not continue to pay for it. Equally, if the product delivers more value than was ever expected, this extra value must be rewarded.” Here is EFPIA’s response. Eventually, something like this has to happen, right? Look for more RWD/RWE to be accounted for in clinical trial protocols and certainly come post-approval. Yay, HEOR!