9 things to know about ICER's new drug assessment program

The Institute for Clinical and Economic Review, an independent non-profit research institute, launched a program changing the way new drugs are priced and evaluated in the United States, according to Medical Xpress.

Here are nine things to know:

1. The program was funded by a $5.2 million grant from the Laura and John Arnold Foundation.

2. ICER will give public reports on new drugs that could facilitate substantial change in patient care and health system budgets.

3. Approximately 15 to 20 reports are planned to be issued in the first two years.

4. The report will consist of a full analysis of a drug's relative effectiveness, potential budget impact as well as cost-effectiveness.

5. ICR will utilize transparent methods to calculate each new drug's value-based price benchmark in relation to the benefits it will bring to patients.

6. ICD previously supported innovative healthcare treatments for drugs for Hepatitis C.

7. ICER's new drug program is a more cost effective system that will enhance patient health while reducing costs. The program is being launched amidst growing concern about the excessive price of drugs.

8. The drug initiative will support healthcare stakeholders and law makers in discussions about the value of new drugs while giving a transparent, objective basis for price negotiations and coverage decisions.

9. ICER will issue the first reports in September 2015.

More articles on quality & infection control:
UK testing vital signs monitoring patch: 6 things to know
TKM-Ebola drug has been suspended — 5 notes
Discrepancies in antibiotic prescriptions linked to individual habits: 5 things to know

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 


Patient Safety Tools & Resources Database

Featured Webinars

Featured Whitepapers

Featured Podcast