2024 Health Meeting - Session 5A: Measuring Value 6.25.24 Recording

If you are a pricing actuary, you have probably been there. A new blockbuster drug has been introduced and the manufacturer is claiming that the value of the drug will offset the higher cost of the drug. But how do you know? In this session, presenters will discuss techniques for measuring the impact of a prescription drug on the total cost of care, including the benefits and limitations of each method. In addition, the presenters will discuss considerations for measuring the impact for a new prescription drug where little to no information is available. At the end of this session, participants will be able to: Describe three methods for measuring the impact of a prescription drug on the total cost of care, including the benefits and limitations of each method. Describe techniques for applying the results of a study to reimbursement negotiations and projecting the impact for premium-setting and budgeting purposes. Describe considerations for projecting the impact of a new prescription drug on total cost of care for reimbursement negotiations and projecting the impact for premium-setting and budgeting purposes.