Research and Markets : Creating Win-Win Solutions from the Ongoing Drug Cost and Price Debate.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c65502) has announced the addition of new Decision Resources report Creating Win-Win Solutions from the Ongoing Drug Cost and Price Debate to their offering. In 2007, we are approaching a tipping point The point in time in which a technology, procedure, service or philosophy has reached critical mass and becomes mainstream. See network effect. See also tip and ring. in the standoff between drug customers/payers and drug producers, each striving to achieve an advantage in the struggle between drug cost versus drug price. The solution to this struggle between closely aligned yet combative industry forces lies in the creation of win-win solutions that benefit not only payers and industry but also, more importantly, society as a whole. Questions Answered in This Report - In today's complex pharmaceutical marketplace and prescription decision-making process, monetary issues now reign supreme. How has the cost/price issue influenced the decision-making process of drug customers and health care providers? Of drug manufacturers? - A paradox has evolved in today's health care industry: treatment is growing more expensive, but more and more people are demanding to be treated. How is the desire for universal health care coverage conflicting with the reality of the market? What sort of middle ground will emerge with regard to coverage that will satisfy both parties? - The advent of knowledgeable and financially motivated customers has irrevocably changed the way in which buyers perceive drug price. What is the perception of drug price in the context of health care costs? How can the pharmaceutical industry influence or alter this perception? - The path to success in the dynamic between the health care customer and pharmaceutical industry is not through a decisive victory Meaning A Decisive victory is an indisputable military victory of a battle that determines or significantly influences the ultimate result of a conflict. It does not always coincide with the end of combat. of one side over the other. What changes in the customer/industry relationship will ensure future success for pharmaceutical companies? What new stratagems could be adopted to yield winning solutions for both parties? Scope - Drug cost/price criticisms: critics' emotional and economic positions against perceived high drug costs. - The battle lines Battle Lines may refer to:
v. en·trenched, en·trench·ing, en·trench·es v.tr. 1. To provide with a trench, especially for the purpose of fortifying or defending. 2. customer positions about health care costs and pharmaceutical industry positions on price. - Current cost/price stratagems: strategies used by customers and the industry to manage costs and prices. - Value/price concessions: select industry pricing strategies There are many ways in which the price of a product can be determined. The following are the foremost strategies that businesses are likely to use. Competition-based pricing Setting the price based upon prices of the similar competitor products. that reflect a more value-based approach to pricing. - Market outlook: methods for creating a win-win pricing environment and our forecast for future customer/industry dynamics. Content Outline: Executive Summary Strategic Considerations Stakeholder Implications Today's Drug Cost/Price Battlefield Price Criticism in a Nutshell Entrenched Customer Cost Positions Factors Driving Health Care Costs Original Expectations Inescapable Paradox Health Care Demographics Health Care Services Defy Centralization Intractable Inefficiencies Temporary Relief from Expenditure Controls Economy Fluctuations Impact of Demand-Side Controls Factors Driving Drug Costs Price and Profit Controls Value-for-Money Emphasis Evidence-Based Medicine evidence-based medicine Decision-making 'The use of scientific data to confirm that proposed diagnostic or therapeutic procedures are appropriate in light of their high probability of producing the best and most favorable outcome'. See Meta-analysis. Entrenched Industry Price Positions Impact of Customer Activism Need for Product Differentiation Product Differentiation A source of competitive advantage that depends on producing some item that is regarded to have unique and valuable characteristics. Current Cost/Price Stratagems Customers as Active Managers of Health Care Cost Reference Pricing Drug Legislation and Regulation Rationing as a Way of Life Health Technology Assessment Supplier Price Stratagems What Price Will the Market Bear? Pricing Orphan Drugs Increasing Prices Thwarting Parallel Imports Staving Off Generics Promoting Directly to the Customer Value-Price Concessions Value Proposition Pricing The Value of Time Purchaser/Supplier Risk Sharing Johnson & Johnson's Velcade Pfizer's Sutent GlaxoSmithKline's Phase IV Proposal Key Guiding Principles for Creating Win-Win Solutions Future Dynamics Between Health Care Customer and Pharmaceutical Industries Figures 1. Share of U.S. Prescription Drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, Cost by Payer, 1990-2006 2. Factors Driving Health Care and Drug Costs and Customer Concerns over Ability to Pay 3. Complex Prescribing complex prescribing, n the homeopathic practice, popular in France and Germany, of prescribing a combined remedy of dilutions at different potencies in one container to treat a specific disease state. Decision-Making Process--The New Primacy of Monetary Issues 4. Setting Prices in a Complex and Multilevel mul·ti·lev·el adj. Having several levels: a multilevel parking garage. Adj. 1. multilevel - of a building having more than one level Environment 5. Using Regulatory Hurdles to Force Pharma Companies to Respond to Customer Concerns 6. Thousands Denied Sight-Saving Drugs in England 7. The New Value Proposition Equation Sidebars National Institute for Health and Clinical Excellence--A History of Criticism and Controversy Tables 1. Pharmaceutical Cost-Containment Measures: Demand-Side Controls 2. Pharmaceutical Cost-Containment Measures: Supply-Side Controls on Manufacturers 3. Projected Impact of Key Brand Patent Expiry on Leading Big Pharma Companies 4. Drugs Approved by the Scottish Medicines Consortium Companies Mentioned: - AAH aah interj. Used to express pleasure, satisfaction, surprise, or great joy. intr.v. aahed, aah·ing, aahs To exclaim in pleasure, satisfaction, surprise, or great joy: Pharmaceuticals - Alliance Boots - Amgen - AstraZeneca - Bayer - Biogen - Ciba-Geigy - Comparative Effectiveness comparative effectiveness, n the assessment of the relative merits of two active therapeutic approaches by direct comparison. Board (U.S.) - Genentech - Genzyme - Eisai - European Network for HTA HTA Health Technology Assessment HTA Hipertension Arterial (Spanish: Hypertension) HTA HTML Application HTA Help the Aged HTA Human Tissue Authority (UK) HTA Hochschule für Technik und Architektur - Eyetech - International Society of Drug Bulletins - Institute for Quality and Efficiency in Health Care (Germany) - Johnson & Johnson - Medicaid - Medicare - Merck - National Health Service (U.K.) - National Institute for Health and Clinical Excellence “NICE” redirects here. For other uses, see NICE (disambiguation). The National Institute for Health and Clinical Excellence or NICE is a Special Health Authority of the National Health Service in England and Wales. (NICE) - Novartis - Offi ce of Fair Trading (U.K.) - Pfi zer - Procter & Gamble - Roche - Royal National Institute of Blind People The Royal National Institute of Blind People[1] (RNIB) is a charity with its headquarters based in London, England, set up by Thomas Rhodes Armitage to lobby for and help people who are blind or partially sighted. Its patron is the Queen. (U.K.) - Schering - Scottish Medicines Consortium - Serono - Teva - Veterans Affairs Department The Department of Veterans Affairs (VA) operates programs to benefit veterans and members of their families. Benefits include compensation payments for disabilities or death related to military service, pensions, education, and rehabilitation. For more information visit http://www.researchandmarkets.com/reports/c65502 |
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