recorded Drug Pricing, Policy, and Utilization Immersion
Drug Pricing, Policy, and Utilization Immersion exposes the complexities of the United States healthcare market by detailing how competing forces, including the US Federal government, the insurance industry, and healthcare providers influence formulary systems, which in turn determines how patients’ access, use, and pay for medications. It delves deep into the intertwining pharmacoepidemiology and pharmacoeconomic data from commercial and government databases that shape drug policy and pricing. This interactive class presents basic cost-effectiveness and quality of life calculation exercises to highlight the types of decisions faced by various drug development teams. Created and taught by a distinguished healthcare economist and social scientist, this engaging course is a must for anyone new to healthcare policy and pricing―grab your seat today!
Week 1: Setting the Stage
Get started with a clear understanding of clinical development in the pharmaceutical industry. Learn about the FDA’s Adverse Events Reporting System and its significance in ensuring drug safety and effectiveness.
Week 2: Drug Placement Into Formularies
Explore the process of getting a drug included in healthcare formularies. Understand the different types of formulary systems, the factors that influence drug placement, and how pricing and value play a role. Dive into the complexities of formulary inclusion, including the impact on Medicare, Medicaid, private insurers, and single-payer markets, and the role of pharmacy benefit managers and manufacturer rebates. Learn about tiering systems, prior authorization, step therapy, and the importance of patient adherence in this critical aspect of the pharmaceutical industry.
Week 3: Pharmacoepidemiology and Drug Use Safety
Explore the field of pharmacoepidemiology, which focuses on understanding how drugs are used and their impact on individuals and populations. Learn about drug safety assessments for current and future use, along with research methods using commercial and federal databases. Discover the importance of evidence-based medicine in developing guidelines for safe and effective drug utilization.
Week 4: Pharmacoeconomics
Learn about the economic side of healthcare with pharmacoeconomics. Understand how it assesses the costs and benefits of healthcare interventions, including cost-of-illness analysis, cost-minimization analysis, cost-benefit analysis, cost-effectiveness analysis, and cost-utility analysis. Discover how quality of life and quality-adjusted life years play a crucial role in evaluating healthcare choices.
Week 5: Drug Pricing and Marketing
Explore the world of drug pricing and marketing. Learn about pricing strategies for both brand-name and generic/biosimilar drugs, and how drug pricing evolves over the product life cycle. Understand the role of pricing surveys and pricing companies. Discover economic concepts like complements and substitutes, and how they influence drug pricing. Dive into specific buyers’ contracts, such as those with the VA and the 340b program. Explore price discrimination abilities and various marketing strategies, including patient assistance programs and the role of direct-to-consumer advertising.
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Five Takeaways
- List the different types of information used to inform drug policy.
- Utilize various types of analysis to determine drug prices.
- Evaluate the rationale behind drug placement on formularies and their impact on patient outcomes.
the rationale behind drug placement on formularies and their impact on patient outcomes. - Explain the intricacies of the product life cycle and supply chain issues in pricing, marketing, and reimbursement.
- Discuss the interconnected relationship between manufacturers, policymakers, pharmacies, and patients and how this influences access to medications.
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