How drugmakers are working to get paid for their most expensive treatments
New medical treatments such as gene therapies come with a high price tag up to six figures, and drugmakers are working hard to ensure they can get reimbursed for these medicines in creative ways.
Installments plans, subscriptions and value-based contracts that tie payments to positive outcomes from expensive drugs are all methods currently being used by drugmakers to get paid for these expensive medications, The Wall Street Journal reported.
For example, one drugmaker, Alnylam Pharmaceuticals, that sells a $600,000 drug that treats a rare disease will only charge full value if a patient benefits. In addition, if more patients than expected need the drug, the company said it will lower the price to insurers. Another drugmaker of insulin, Sanofi, is offering a $99 monthly subscription for the medication.
And Novartis, which sells the world’s most expensive gene therapy for $2.1 million, is offering insurers the ability to pay over five years.
These growing options come as public cries for lower drug prices are mounting and healthcare plans limit prescription options for enrollees in order to control costs.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."