As expensive precision medicines come to market, employers are willing to cover the costs if these medicines are shown to work and improve patient experience or outcome, said Neil Goldfarb, president and chief executive officer of the Greater Philadelphia Business Group on Health.
As expensive precision medicines come to market, employers are willing to cover the costs if these medicines are shown to work and improve patient experience or outcome, said Neil Goldfarb, president and chief executive officer of the Greater Philadelphia Business Group on Health.
How are employers viewing the changing landscape as we see more precision medicines come to market that require genetic and diagnostic testing? What are they doing to manage these new, ballooning costs?
I think employers still rely very heavily on their vendors, their benefit consultants, their PBMs [pharmacy benefit managers], specialty PBMs to advise them on these kinds of issues. And I think there’s still some question about for some of the precision medicine strategies, are they going to be inflationary or cost saving, quality improving or really no enhancement of value. So, we have to really judge each new technology independently. And I think that things are shifting where employers are recognizing that yes, every technology needs to be evaluated in some sort of a value framework, whether it’s by the employer, one of their vendors, or some value measuring institute.
I think it’s still fairly early on and employers, what I do know is their willing to cover these technologies even if they’re expensive, if they’re going to significantly improve the patient experience or the patient outcome. It’s going to then be a question of is the price reasonable for the outcome that’s being delivered?
Dr Dalia Rotstein: Physicians Must Be Aware MS Affects People of All Backgrounds
April 24th 2024Dalia Rotstein, MD, MPH, emphazises the importance of awareness that multiple sclerosis (MS) impacts patients from various backgrounds as clinicians think through ways to improve access to care and research efforts in MS.
Read More
Empowering Community Health Through Wellness and Faith
April 23rd 2024To help celebrate and recognize National Minority Health Month, we are bringing you a special month-long podcast series with our Strategic Alliance Partner, UPMC Health Plan. In the third episode, Camille Clarke-Smith, EdD, MS, CHES, CPT, discusses approaching community health holistically through spiritual and community engagement.
Listen
Beyond Insulin: The Impact of Next-Generation Diabetes Technology
April 17th 2024Experts explain how new diabetes technologies like continuous glucose monitors are transforming care beyond intensive insulin therapy, offering personalized insights and improving outcomes for patients of all treatment levels.
Read More
Overcoming Employment Barriers for Lasting Social Impact: Freedom House 2.0 and Pathways to Work
April 16th 2024To help celebrate and recognize National Minority Health Month, we are bringing you a special month-long podcast series with our Strategic Alliance Partner, UPMC Health Plan. Welcome to our second episode, in which we learn all about Freedom House 2.0 and the Pathways to Work program.
Listen
Increasing Lp(a) Awareness for Better Cardiovascular Health: Dr Mary McGowan
March 24th 2024For Lp(a) Awareness Day, Mary McGowan, MD, FNLA, chief medical officer of the Family Heart Foundation, highlights how most people with elevated Lp(a) are completely unaware that they have this increased risk and calls for increased testing.
Read More