LEADER 04577nam 22005895 450 001 9910300196803321 005 20200706221530.0 010 $a3-319-08903-X 024 7 $a10.1007/978-3-319-08903-4 035 $a(CKB)3710000000261934 035 $a(EBL)1965313 035 $a(OCoLC)893117122 035 $a(SSID)ssj0001372717 035 $a(PQKBManifestationID)11881982 035 $a(PQKBTitleCode)TC0001372717 035 $a(PQKBWorkID)11310641 035 $a(PQKB)10899549 035 $a(DE-He213)978-3-319-08903-4 035 $a(MiAaPQ)EBC1965313 035 $a(PPN)182093379 035 $a(EXLCZ)993710000000261934 100 $a20141009d2015 u| 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe New Drug Reimbursement Game $eA Regulator?s Guide to Playing and Winning /$fby Brita A.K. Pekarsky 205 $a1st ed. 2015. 210 1$aCham :$cSpringer International Publishing :$cImprint: Adis,$d2015. 215 $a1 online resource (256 p.) 300 $aDescription based upon print version of record. 311 $a3-319-08902-1 320 $aIncludes bibliographical references at the end of each chapters. 327 $aIntroduction -- Reframing the political economy of new drugs -- The social rate of return on investment in pharmaceutical R&D -- The value of innovation -- The shadow price -- The health shadow price -- The health shadow price and the economic context -- The `pharmaceutical R&D financing' game -- The `pharmacotherapy needs a premium' game -- Conclusion. 330 $aThis comprehensive text presents a rigorous framework from within which regulators can respond strategically to the claim by the pharmaceutical industry that lower drug prices today lead to a loss for the population?s future health due to less innovation. It starts with a critical review of the empirical evidence of the return to consumers on their ongoing investment into high drug prices in order to increase future innovation. The implicit, critical and unrealistic assumption inherent in these studies is identified, namely that the health budget can be expanded to purchase drugs at higher prices without an opportunity cost, for example, the foregone benefits of alternative investments in health care infrastructure. Price effectiveness analysis (PEA), is introduced. PEA informs the question of how the innovative surplus from the new drug should be allocated between the manufacturer and the consumer so as to optimise society?s welfare. The method allows the decisions by the regulator and the firm to be analysed jointly by specifying the firm?s production and revenue functions in terms of the clinical innovation of a new drug; the incremental effect used in the summary metric of cost effectiveness analysis. An economic value of innovation that takes into account opportunity cost under conditions of economic efficiency in the health system is proposed: the health shadow price. The limitations of the non-strategic methods that currently inform the highly contested new drug subsidy game are presented and the relative strengths of PEA are demonstrated. Health technology assessment quantifies both the clinical innovation of a new drug and its financial impact on the health system. Cost effectiveness analysis tests the relationship between the incremental cost and incremental effect of a new drug for target patients, at a given price. PEA tests the relationship between the price of a new drug and the health of the whole population, now and into the future. It achieves this by taking into account current inefficiency in both resource allocation and the displacement process, and the relationship between price and future innovation. 606 $aPharmacy management 606 $aPharmaceutical technology 606 $aPharmacoeconomics and Health Outcomes$3https://scigraph.springernature.com/ontologies/product-market-codes/H69020 606 $aPharmaceutical Sciences/Technology$3https://scigraph.springernature.com/ontologies/product-market-codes/B21010 615 0$aPharmacy management. 615 0$aPharmaceutical technology. 615 14$aPharmacoeconomics and Health Outcomes. 615 24$aPharmaceutical Sciences/Technology. 676 $a610 676 $a615.1 676 $a615.19 700 $aPekarsky$b Brita A.K$4aut$4http://id.loc.gov/vocabulary/relators/aut$0803698 906 $aBOOK 912 $a9910300196803321 996 $aThe New Drug Reimbursement Game$92499524 997 $aUNINA