BEGIN ARTICLE PREVIEW:
As planning for the distribution of a COVID-19 vaccine begins in earnest, experts say that policymakers should include value-based pricing in those considerations.Pricing for value would ensure that drug companies and other firms are able to continue to innovate new ways to address the virus without lining their pockets will billions in profits off of a critical vaccine, write researchers led by Peter Neumann, director of the Institute for Clinical Research and Health Policy Studies at Tufts Medical Center, in an article for Health Affairs.
The researchers say that COVID-19 vaccines and therapies will likely require a hybrid pricing approach that cribs from multiple strategies, but measuring value is key for policymakers to “consider the full costs and benefits of products and the wide-ranging ramifications of their actions.”
How to Mobilize a Superior Member Experience
Learn how health plans can develop the best mobile app strategy to drive self-service and improve member engagement and satisfaction.
“There are no easy answers to pricing in a pandemic,” they wrote. “People may understandably recoil from the idea that drug companies will pocket billions, but pricing to value will help achieve the ultimate goal of ensuring more innovations are available for the …
END ARTICLE PREVIEW