Dr Richard Snyder on the Impact of Novel, Costly Drugs on Prevalence of Value-Based Agreements

Richard Snyder, MD, executive vice president of Facilitated Health Networks and chief medical officer at Independence Blue Cross, discusses how the increasing share of novel, costly therapies will impact the prevalence of value-based agreements.

Transcript

With more novel, costly therapies being approved and patients being responsible for more costs, how do you think this will impact the prevalence and popularity of value-based agreements?

I think it will absolutely increase the speed to value-based care and also the kinds of arrangements that we will see going forward. There are quite a few creative ideas emerging. Amongst them the Blue Cross Blue Shield Association has a number of direct contracting type models to eliminate the need for a provider to invest in the cost of a medication and to thereby gain perhaps somewhat of a discount and facilitate the patient care delivery without incurring as much out of pocket costs for the patient.