Large Employer Collaborative To Embrace Drug Value As Cost Saver
Health Transformation Alliance is more interested in how a drug might reduce other medical costs than in pricing alone, CEO Andrews says.
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How Warren Buffett's company Berkshire Hathaway, Amazon and JPMorgan will address the challenge of creating affordable, quality healthcare for their employees in the US is far from clear, but they are intent on trying. Viren Mehta, founding partner of Mehta Partners LLC, considers what approach they might take to succeed where others have failed, and how such a course would impact on the pharma sector.
Numerous value frameworks launched over the past few years have encouraged acceptance of cost effectiveness assessments in the US and ICER's influence in the field is growing. Employers may be the next group to promote the concept.
Health Transformation Alliance partners with CVS and OptumRx on project to lower drug spending in employer-sponsored insurance. Pilot effort expected to involve 20 corporations, save $600m over three years.