Medicare price negotiation and pharmaceutical innovation following the Inflation Reduction Act

Vogel, Matthew; Kakani, Pragya; Chandra, Amitabh; Conti, Rena M.

doi:10.1038/s41587-023-02096-w

Cited by 6 publications

(3 citation statements)

References 30 publications

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“…Moreover, hierarchical analysis, the Delphi method, and the content analysis method have more subjective evaluation processes ( 40 ). Furthermore, the difference in difference analysis focuses on evaluating the implementation effect of a certain policy ( 41 – 43 ), lacking systematic evaluation of a series of policies ( 44 ). These above policy evaluation methods are widely adopted, but they fall short in terms of objectivity and accuracy.…”

Section: Literature Reviewmentioning

confidence: 99%

Quantitative evaluation of the medicine innovation policy in China: based on the PMC-Index model

Guo,

Qi,

Song

2024

Front. Public Health

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IntroductionMedicine innovation is crucial in promoting the sustainable development of medicine undertakings, which has significant economic and social benefits. China is the main force in global medicine consumption, with a huge demand for innovative medicines. Thus, the Chinese government releases a series of policies aimed at providing scientific and reasonable guidance for medicine innovation. However, there is inadequate quantitative evaluation and comparison of various medicine innovation policies in the existing studies.MethodsThis paper adopts the approach of text mining and the Policy Modeling Consistency Index (PMC-Index) model to construct an evaluation system and then quantitatively evaluates and compares the traditional Chinese medicine innovation policies (TCMIPs), the biological medicine innovation policies (BMIPs), and the multiple medicine innovation policies (MMIPs) in China.ResultsThe results indicate that: (1) The three types of drug innovation policies have similarities in content and goal through comparative analysis of high-frequency words, while they also have their own characteristics. (2) The average PMC-Index of 29 TCMIPs is 5.77, which has the highest policy bad rate (21%); the average PMC-Index of 12 BMIPs is 6.21, which has the highest policy good rate (92%); moreover, the average PMC-Index of 35 MMIPs is 6.06, which has the highest policy excellence rate (26%). (3) The BMIPs, MMIPs, and TCMIPs have similar scores on policy object, policy orientation, policy timeliness, policy evaluation, and policy accessibility, while they differ significantly mainly on policy nature, incentive method, policy function, policy issuing agency, and policy instrument.DiscussionThis study contributes to a comprehensive understanding of medicine innovation policies in China, in order to provide theoretical support for future policy formulation and optimization in the medicine industry. Moreover, we expand the application scenarios of policy diffusion theory.

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Section: Literature Reviewmentioning

confidence: 99%

Quantitative evaluation of the medicine innovation policy in China: based on the PMC-Index model

Guo,

Qi,

Song

2024

Front. Public Health

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“…If manufacturers expect lower profits, they may leave promising treatments on the shelf and delay the costly process of conducting a trial, and because overall profits depend on the size of the market for a drug, the drugs that do not enter production are typically those with many competitors, modest benefits, or few expected patients. 9 Longer-term losses are likely to be even smaller than the textbook case on the hospital side.…”

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confidence: 99%

It Is Time to Consider More Price Regulation in Health Care

Glied,

Chandra

2024

JAMA Health Forum

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“…US patients pay more than twice as much per capita for brand-name prescription drugs as patients in most other developed countries . Since Joseph Biden was elected President in 2020, the federal government has undertaken a variety of initiatives to address these high costs: the Federal Trade Commission has moved to challenge improper patents listed by brand-name drug companies, the Department of Health and Human Services has proposed guidance to allow the government to relicense patented pharmaceutical products developed with federal funding that are marketed at extreme and unjustified prices, and, perhaps most notably, Congress passed the Inflation Reduction Act of 2022, which authorized Medicare for the first time to negotiate the prices of top-selling medicines and capped out-of-pocket spending for patients with Medicare Part D …”

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confidence: 99%