Facing an upcoming and terrifying drug patent cliff, pharmaceutical companies need to find other ways of getting involved to save money and increase revenues. First, they’re expanding more into emerging and developing markets and now they’ll have the chance to play a key role in Accountable Care Organizations.
A group of health care organizations developed a framework for considering the role of pharma in achieving value-based success, according to an article on PMD’s sister site, the American Journal of Managed Care.
The American Medical Group Association (AMGA), the National Pharmaceutical Council (NPC), and the Premier health care alliance teamed with seven provider organizations to form the Working Group on Optimizing Medication Therapy in Value-Based Healthcare.
Elements of framework
Success in a value-based environment will depend on understanding the unique contribution of medications and utilizing them optimally across conditions and populations. However, medications need to be integrated into the environment.
Furthermore, services meant to optimize patient outcomes cannot be undertaken as a one-size-fits-all approach; the role, impact, and characteristics of these services will vary by a patient's condition.
Overall risk factors can be used to identify patients who are candidates for medication therapy management strategies to watch for drug-drug, drug-disease, or polypharmacy concerns.
Where there are condition-specific incentives to achieve cost savings, there should also be a quality metric to detect under-use of pharmaceuticals.
"This framework provides guidance for providers who are working to implement value-based programs that achieve broader quality and cost reduction goals," Donald W. Fisher, PhD, CAE, AMGA president and chief executive officer, said in a statement. "As providers navigate this new landscape, they can rely on this road map to optimize medication therapy and ensure patients have access to, and support in using, the medications they need."