Global Pharmaceutical Pricing and Reimbursement Strategies for Market Access
In today’s pricing environment, new challenges have rendered traditional global pricing and access approaches obsolete — and your decision-making process has become more complex than ever. To succeed in this hyper-competitive environment, you must quickly acquire deep knowledge of advanced analytics and current market realities.
Alliance can help. Our world-class global pricing and reimbursement services are powered by an unparalleled understanding of pharmaceutical market dynamics, advanced data analyses and modeling capabilities. We are in a unique position to provide strategic direction and actionable information for daily decision-making processes.
That’s Alliance. That’s peace of mind.
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Unifying Contracting & Revenue Management: The Global Revenue Management Center of Excellence
As the pharmaceutical market expands and matures worldwide, siloed systems and processes are unable to provide the holistic view manufacturers need to contain lost revenue and maintain price transparency.
This white paper discusses how a Center of Excellence can provide a greater level of insight into and management of revenue.
The whitepaper covers:
- Considerations for creating a Center of Excellence
- Providing visibility for pharma reps and overcoming challenges
- Aligning systems to support the Center of Excellence
- The value a Center of Excellence can bring
Register now to receive a copy as soon as it is available.
A mid-sized pharmaceutical company was struggling to manage over 1500+ annual price changes with a department of less than 5 pricing experts, and could not keep up or quantify fully the price erosion impacts of these decisions in advance.
A pharmaceutical manufacturer required competitor prices and reimbursement information to support a range of global issues at a very short notice. Having limited resources, they were looking at optimizing their activities.
The company recognized a need to assess the potential impact that the pending Marketplace Exchanges would have on drug access strategy, contracting, and account management. Managers were fielding strategic questions from senior leadership about this potential impact without sufficient data or market intelligence, and the field force was looking for direction on how to engage their clients about this new marketplace.
The company needed help developing their price, reimbursement, and market access strategy for an orphan drug. Strong clinical evidence was under development, but serveral gaps were apparent. The company struggled due to limited resources, lack of industry insights, and information infrastructure.
With the emergence of a new national health insurance Marketplace, insurance shopping has a new level of accessibility that has resulted in a broad-spectrum shift of health insurance operations. October of 2013 began this paradigm shift with the start of open enrollment for the Accountable Care Act (ACA)’s Marketplace. The Marketplace ushered in new insurers, formularies, and an array of benefits designed to meet the new health coverages and actuarial expectations stipulated by the law.
As of April 19, 2014, over 8 million people signed up for a Marketplace plan with an additional 6 to 7 million enrolled in Medicaid, the majority being previously uninsured. This exceeded the original 6 to 7 million enrollment projections. The Marketplace is poised to grow to over 24 million members by 2016. Depending on how the current small and large group employer market responds and evolves, it could mean expansion beyond that by tens of millions.
The Gulf Central Committee for Drug Registration (GCC-DR) was approved on the 15th of May in 1999 by the Executive Office for Health Ministers in Riyadh, Saudi Arabia. The GCC-DR committee consists of two state nominated representatives from Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).
Market access is the ultimate goal for medical device and pharmaceutical companies, yet it remains one of the biggest current and future challenges for the industry. Spiraling drug development costs mean the pressure is on to ensure successful and effective market access.
To uncover the specifics on the challenges and key success factors, we recently conducted a survey with global and local stakeholders to find out more. 91 stakeholders were included from a variety of pharmaceutical and medical device roles in pricing, reimbursement, market access, health economics outcomes research (HEOR) and policy.
The healthcare sector is widely regarded as a defensive play in the stock market. Healthcare is thought of being less elastic than normal goods because when people are sick they will use it with little thought of price.
We attempt to answer if the pharmaceutical and biotechnology sectors are defensive plays during a bear market, and how they compare in a bull market? We analyzed the performance of a pharmaceutical and a biotechnology index from March 2000 through April 2013 alongside the S&P 500.
Background and Motivation for this Study:
- Price of drugs do not vary with macroeconomic variables like GDP per capita or inequality
- If price elasticity of medicine demand varies with macroeconomic variables, then it is possible to increase profit by allowing prices to differ
- There is ample empirical evidence that price elasticity decreases with income
Download the paper to see our methodology, results and conclusions.
With expectations to reach 30% of the nearly $1.2 trillion US global spend, and 50-70% of the $70 billion annual US growth forecasted in the pharmaceutical sector by 2016, it is clear why emerging markets are considered the new frontier. They are the new hope for a pharmaceutical industry that is seeking new strategies and partnerships to balance the stagnation in more mature markets…
Increasing price transparency and global competition are key challenges faced by companies across all industries. Today’s pricing decisions cannot be based on instinct or informal methods due to the high level of risk incurred through inaccurate practices.
Predicting the price change percentages and timings of drugs is important to policy-makers, pharmaceutical companies, and even investment firms, to aid in sound policy and product decision making. If it were possible to use advanced modeling to predict these changes, informed decisions could be made based on these forecasts.
We examine how much of the cross-country drug price differences can be explained by macroeconomic conditions. Specifically, we use the following explanatory variables to model cost: real GDP per capita, openness, population, and corruption.