Monitor's Cameron McClearn discusses Washington State's initiative to examine the economic value of medical treatments when determining health care coverage decisions—a growing national trend which reinforces the importance for pharmaceutical companies to effectively communicate the cost effectiveness of their products. A version of this blog appeared on the website of Pharmaceutical Executive.
“The push for health care effectiveness—both in quality of care and cost—will continue to gather momentum as costs continue to rise faster than the budgets to pay for them,” McClearn writes. “Given the lead times required to demonstrate that their products improve health and are cost-effective compared to alternatives, pharmaceutical and medical device industries should be preparing now to respond to the greater demands for information that they will inevitably face.”
Cameron McClearn is a partner at Monitor and co-leader of Monitor’s Global Market Access initiative. He works exclusively with pharmaceutical and medical device clients. He is based in Monitor’s New York office and can be reached via e-mail at Cameron_McClearn AT Monitor DOT com.