Editor’s Note: Even casual observers of drug pricing reform would be apt to conclude that change is in the air and more disruptions to standard drug pricing practices are inevitable. As price takers, drug manufacturers are keenly aware that in today’s complex drug channel, even small policy changes can generate ripple effects that impact all stakeholders. With the Inflation Reduction Act of 2022 representing the most significant federal drug pricing legislation in decades and various other measures in play, manufacturers can be sure that tomorrow won’t look like today when it comes to drug pricing policies
Editor’s Note: Innovative therapies that promise to improve the quality of life and/or slow disease state progression for individuals with complex health conditions like ALS remain out of reach for many due to the cost of therapy. While many point the finger at pharmaceutical companies for setting list prices that by all appearances are astronomically high, the cost to bring an innovative therapy to market has never been higher and is complicated even further when the target patient population is small. The bottom line is that all stakeholders can agree that financial barriers shouldn’t prevent patients that can significantly benefit from a life altering therapy from accessing it
Editor's Note: With the increasing prevalence of expensive, branded specialty medications for complex health conditions, drug pricing remains a hot issue in the healthcare industry. Industry stakeholders and the public at large continue to point their fingers at drug manufacturers for the practice reported ON in this article - inflating list prices year over year. What they fail to consider is that drug manufacturers lack substantial pricing power in the drug channel with middlemen extracting more significant concessions year over year that erode manufacturer net revenue
More recently though, as life science companies strive to ensure improved access to their therapies and reduce operational costs, they are turning to disruptive technology platforms that offer the potential to break through barriers to medication. Unfortunately, some companies are still wrapped up in the old paradigm and spend millions of dollars on patient access solutions but get little in return. Here are four ways a technology-driven patient services solution can enable life science companies to achieve more in 2023: Automating workflows From the point of prescribing to driving therapy adherence, automated processes reduce friction across the patient’s medication journey
Editor's Note: The current economic environment has disrupted the playing field for venture backed organizations throughout the life sciences industry. Biopharma companies that were optimistic about their ability to raise capital from investors to fund growth are now responding to a tighter capital environment with defensive financial decisions in hopes of extending their survival. While the maturity of a biopharma’s pipeline will ultimately inform their business strategies, those with late stage pipeline molecules or in-market therapies would be wise to prioritize charting the quickest path to sustainable growth and profitability
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