Curious to discover the success lessons for the implementation of Innovative Contracting?
On the 11th of March, we had a conversation with our panel experts during our second webinar in the LOGEX Series on Innovative Contracting for Medicines.
We looked at prevalent medicine payment models and how the right approach to data analytics can lead to the successful implementation of innovative contracting. Our panel of experts discussed how working to a new standard, aimed at rewarding value rather than volume, can benefit all of us.
Government Affairs Director at Roche, Ex-Corporate Affairs Director at AZ and Abbott LinkedIn
Univ of South Wales-UK- Health Economist, Researcher, Writer & Policy advisor on UK and European pharmaceutical price regulation and access LinkedIn
Medical Director at Amgen, Ex- Merck, Pfizer, Novartis, Field physician in the Dutch Army LinkedIn
Principal Life Science at LOGEX, Ex-Director at Prismant and X-IS LinkedIn
KEY TAKE-AWAYS
During the webinar we unlocked the following key insights:
1. Innovative Contracting requires trust amongst the stakeholders, which is best facilitated by a trusted third party. Our panel discussion and in-session polls highlighted that a trusted third party can positively impact:
- Bringing key stakeholders together
- Overcoming trust barriers
- Providing access to key data sets
- Data processing and monitoring
2. Implementation of Innovative Contracting should be a bottom-up exercise, which should start with gaining trust and the necessary data from the hospitals. The expert panel confirmed our own experience: that unfortunately, most projects start top-down.
Key learnings:
- Do start with the collection of real-world data and analytics
- Building an agreement model should be a consequence of hospital data-driven conversations
- Do consider innovations such as differential pricing supported by robust outcomes data to price indication extensions
3. The use of Real World Data and Analytics remains a complex matter. But if they are vital for the successful implementation of innovative contracting, then what is the most important question to answer?
Rewatch the full webinar below:
IT IS OUR MISSION AT LOGEX TO TURN DATA INTO BETTER HEALTHCARE.
We believe that being recognised and rewarded for better outcomes is the new standard.