Moving Beyond Market Access to Patient Access: What Are the Unintended Consequences of the Inflation Reduction Act (IRA)/Drug Price Negotiation (DPN)?
Moderator
Jennifer Whiteley, EdD, Oracle Health & Life Sciences, South San Francisco, CA, United States
Speakers
Joe Vandigo, MBA, PhD, Applied Patient Experience, Greensburg, PA, United States; Ravinder Dhawan, PhD, Merck Sharp & Dohme International Service B.V., Rahway, NJ, United States; Jessica Daw, MBA, PharmD, Sentara Health Plans, Virginia Beach, VA, United States
ISSUE: The Inflation Reduction Act (IRA), coupled with the implementation of Medicare Drug Price Negotiations (DPN), marks a pivotal shift in the U.S. healthcare landscape. The policy aims to reduce drug prices and ensure more equitable access to essential medications, particularly for those enrolled in Medicare. That said the broader impact on US healthcare system including drug development, the US payers and patient access warrants exploration. This panel will debate how these policies are shaping up to impact patients, the industry, and the US payers, and ultimately the unintended consequences on patient access to medicines. OVERVIEW: Jennifer will share a brief update on the IRA/DPN and evolving impact to the healthcare system. Panelists will share their perspectives and actionable insights with the audience. Following this session ISPOR members should have a clear understanding of the challenges the IRA/DPN poses to patients, payers and the industry, and considerations for strategies to mitigate these issues. Payer Perspective: Jessica will discuss the downstream implications of the IRA on US payers including the impact to patients with respect to the donut hole and caps on coverage. Patient Perspective: Joe will share how these policies impact individual patients, which may be much greater than not being able to access a single medicine in a single condition. Joe will offer insights into how the patient experience can inform decisions about where investment and research funding are allocated, which can change the landscape of future therapies for patients if not accounted for in the negotiation process. Industry Perspective: Ravinder will share the pharmaceutical industry perspective. While the industry recognizes the need for cost reduction in the healthcare system, there are concerns how these policies and the reduced revenue may lead to changes in R&D, innovation, and access to cutting-edge therapies. He will share the industry observed changes and considerations to enable innovation and market access.
Code
117
Topic
Health Policy & Regulatory