Breakout Session, February 9th (two concurrent): Opposing Influences of Evidence and Market Forces in Pharmaceutical Pricing and Payer Net Cost
Larry Blandford – Senior Vice President & Managing Partner, Precision for Value
Steve Carter – Vice President, Pricing and Market Access, Precision for Value
This session will outline the process often used by manufacturers to establish a price for a product and compare that to how payers assess how that cost impacts the perception of value. The presenters will outline how clinical and economic evidence, research, and market forces can shift price points through launch preparation. New research on how payers perceive a product based on price will be unveiled along with implications across different benefits plans, such as Medicare Part D and employer-funded programs. Lastly, evolving and future methods for alignment between these stakeholders will be shared.
By attending this session, you should be able to:
• Outline a process and the influences by which the price of pharmaceutical products may be established;
• Explain how payers perceive the value of pharmaceutical products, based on price, evidence, and value added services on their overall net cost; and
• Identify evolving and future methods for aligning pharmaceutical product price with payer value.