Genesis Research Group’s Post

As health inequalities gain prominence, understanding payer perspectives is critical for pharma companies. In the following deep dive from The Evidence Base®, based on our recent ISPOR theatre presentation, they share how our Access & Pricing team gathered insights from 31 payers across 6 markets leveraging our tech platform RPR, revealing: ·      Drivers of health inequalities according to payers ·      Factors payers prioritize to mitigate inequalities ·      Patient populations considered most meaningful for reducing disparities ·      Expected evolution of HTA frameworks to address inequalities ·      Top initiatives pharma can undertake to advance health equity Gain valuable payer insights to inform your organization's health equity strategies. Read the full article now. #HealthInequalities #PayerInsights #HTA #HealthEquity https://lnkd.in/eqKZBcsy

Innovative approaches to Social Determinants of Health (SDoH) are crucial for reducing healthcare disparities and improving outcomes. At Softheon, we've had many conversations about this topic, and we're excited to see payers leveraging technology to make a real impact. https://bit.ly/3yjwnnu via Healthcare IT Today #Healthcare #SDoH #HealthcareTech

What Can Different Health Care Systems Learn from One Another? Health care systems worldwide vary significantly in their approaches to balancing cost, access, and quality. These variations are influenced by national policies, cultural values, and economic constraints. By examining these differences, policymakers can glean valuable insights into improving their own systems. Systems like the UK's National Health Service (NHS) heavily subsidize medication costs, ensuring affordability but often leading to limited availability of newer drugs. US Medicare system, hindered by non-interference clauses, pays significantly more for pharmaceuticals but offers quicker access to innovative treatments. Balancing affordability with access to new drugs is a key lesson for health systems globally. The recent push by the US to negotiate drug prices aims to reduce healthcare costs, inspired by systems that already implement price controls. The initiative to allow Medicare to negotiate prices for the top ten drugs is a significant step towards cost reduction. This policy shift highlights the importance of government negotiation in managing healthcare expenses, a strategy already in place in many other countries. Opponents of stringent price controls argue that such measures could stifle innovation and limit access to cutting-edge treatments. The US, with its market-driven approach, tends to offer new drugs faster than countries with more regulated systems, like the NHS. However, this comes at the cost of higher prices for consumers. Balancing innovation with cost containment is crucial for sustainable healthcare. Different health care models provide diverse lessons: UK's NHS: Emphasizes equity and affordability but faces challenges in drug availability. US Medicare: Offers rapid access to new treatments but struggles with high costs. Scotland's System: Demonstrates regional adaptability within a national framework, as seen with the differing approval of a new breast cancer medication compared to England. Health care systems worldwide reflect their unique socio-economic landscapes and cultural values. By studying the successes and challenges of these systems, countries can adopt best practices to improve their own healthcare delivery. Emphasizing a balanced approach that incorporates cost control, access to innovations, and equitable treatment is essential for creating robust health care systems. In conclusion, the world's healthcare systems offer a vast learning laboratory. By fostering cross-pollination of ideas and acknowledging the strengths and weaknesses of different approaches, countries can embark on a collaborative effort towards a future where quality healthcare is accessible and affordable for all. Open dialogue, measured policy changes, and a willingness to learn from each other are crucial steps on the path to a healthier world. References Times of India Article Department of Health and Human Services Statements

If you missed our newest blog from last week, make sure to check it out!

🚀 Webinar "Digital Health Reimbursement in France." 🇫🇷 Join us to delve into the latest changes in the French Market Access Pathways for digital health. Whether you are a startup or an established player in digital health, this webinar is your gateway to success in gaining access to the French market. 🗓️ Save the Date: 12 Dec 2023, 16:00 CET. 📌 Reserve your spot now: Registration Link below. #DigitalHealth #MarketAccess #DTx #RPM #France #Webinar

Health insurers decide whether to cover the cost of medical therapies based on value assessments, which consist of literature reviews and economic analyses. The role of the patient voice in value assessments is only beginning to take shape. Read my blog here. #healthtechnologyassessment

Patients long to be heard and seen; they want their unique, individual experiences captured. Health economic evaluation, however, occurs on the population level. In the seventeen years since researchers first proposed “patient-based health technology assessments,” key institutions have made progress. Patient-Centered Outcomes Research Institute (PCORI), Institute for Clinical and Economic Review (ICER), and other agencies invite patient comments on HTAs and listen to patients on their advisory panels. Avalere Health, a healthcare consultancy, published guidance on assessing patient-value. Nonetheless, the methods for including the patient perspective in HTAs are neither well-defined, nor widely adopted. Read more in our latest from Kathryn Cowie, COO of Nested Knowledge, here: https://lnkd.in/gugw74ZF

Tracking and addressing patients’ social determinants of health is increasingly important. MMIT’s Addie Blanchard, MPH explores how payers, providers and pharma companies can approach #SDoH initiatives. https://ow.ly/GlEs50Rv1Le #Healthcare #HealthLiteracy #SocialDeterminantsOfHealth

US Healthcare Profit Pool to Rise At a Healthy Pace in 2024 credit :Tim van Biesen and Joshua Weisbrod Bain research shows US healthcare industry profit pools will grow at a 5% annual clip over the next five years to $603 billion in 2024, up from $477 billion in 2019. Medtech and healthcare information technology (IT) profit pools will grow will grow the fastest during that span. Rising disease rates, new innovative therapies, increased enrollment in Medicare Advantage and continued (though slowing) growth in pricing will more than offset ongoing government reimbursement pressures and consolidation in some sectors. Pharma: Blockbuster specialty drugs and new technologies will fuel revenue growth and expand the profit pool by 35% to $170 billion by 2024. Medtech: Innovation in premium products and increased focus on category leadership will expand the profit pool by 38% to $72 billion. Healthcare IT: A small portion of the profit pool today, healthcare IT will be the fastest-growing segment, doubling over the next five years to $28 billion, propelled by consumer IT and data and analytics investments throughout the industry. Providers: An aging population and a rise in chronic diseases will increase provider revenues, but declining reimbursement rates and a shift to outpatient care sites will squeeze operating margins and limit profit-pool growth to 9% over the next five years. Payers: Vertical integration and expansion of services should improve margins, and continued growth in Medicare Advantage will further help to increase the profit pool 36% to $117 billion. #MHealth #HealthTalk #HealthNews #Healthcare #Nursing #PatientSafety #HealthInnovations #MedEd #MHChat

"The United States spends significantly more on healthcare than comparable countries do, and yet has worse health outcomes. Much of the national conversation has focused on spending on retail prescription drugs and insurer profits and administrative costs as key drivers of health spending in the United States. The Inflation Reduction Act, signed into law by President Biden in 2022, includes several provisions aimed at lowering the cost of these prescription drugs. While it is true that many brand-name retail prescription drugs are priced higher in the U.S. than in peer countries, health spending data indicates that other spending categories – particularly hospital and physician payments – are primary drivers of the U.S.’s higher health spending. This brief examines the drivers of health spending and differences between the U.S. and its peers – other Organisation for Economic Co-operation and Development (OECD) nations that are similarly large and wealthy. In 2021, the U.S. spent nearly twice as much per capita on health as these comparable countries did. Most of the additional dollars the U.S. spends on health go to providers for inpatient and outpatient care. The U.S. also spends more on administrative costs, and significantly less on long-term care."