Discussing Interpretations and Definitions for Value Based Pricing through Analysis of Regulatory Trends and International Price Indexing Models with an Emphasis on Transparency
The gap of understanding in the public perception of prescription drug costs has led to a push for transparency in the pricing process, as well as the restructuring of pricing models in an effort to reflect the best value for patients. Organizations like ICER and NICE have grown in influence as more elected officials turn towards the possibility of regulating pharmaceutical manufacturers and PBMs involved in setting pricing standards. The current HHS proposal to restrict Medicare Part D rebates for PBMs is just one regulation that could ripple across the industry and fundamentally alter the way pricing models are structured. Strategic pricing teams for pharmaceutical manufacturers are tasked with predicting the economic climate under this uncertainty. Without clarity on the regulatory future of the industry, and lacking common definitions of key terms, pricing and contracting experts have had difficulty working with third party partners to implement changes and keep up with external pressure.
The 4th Annual Pharmaceutical Strategic Pricing Conference aims to alleviate some of this pressure by bringing together representatives from manufacturers, PBMs and regulatory bodies to discuss the challenges faced by pharmaceutical pricing professionals and secure a shared understanding of value and transparency. Sessions will be presented by industry leaders who have successfully guided their companies through the implementation of imminent pricing trends and by those who play a functioning role in forthcoming regulatory efforts. Through in-depth case studies and open-discussion panels, this program will work to support teams who prioritize compliance while also seeking to properly communicate with partnering organizations and establish pricing models that reflect a product’s value.