Physical and mental health measure declines are two factors likely to impact the healthcare industry as they move forward in 2024 and beyond. Not surprisingly, concerns over rising healthcare costs and how to best control them continue to dominate in significance.
TREND 3 - The rising cost of healthcare management
Three elements related to healthcare costs are likely to exert influence on manufacturer direction in healthcare:
- The projected rise in Medicare premiums is greater than consumer pricing in general. Medicare Part B premiums are expected to rise by 5.9% for 2024. Part D premiums are expected to rise substantially with an average increase of 42% for high-end plans from 3 large payers serving the highly populated states of California, Florida, Texas, New York, and Pennsylvania.1
- Administrative costs are being scrutinized. Thirty percent of estimated excess spending is attributed to administrative costs.2
- Pharmacy benefit managers (PBMs) are the target of new transparency requirements to bring costs down. Current legislation is focused on the practice of “spread pricing.” The spread between list price and actual price after rebates, incentives, and returns has grown and is believed to be responsible for part of the rising cost in healthcare.3
Common pricing practices are coming under greater scrutiny. If unprepared, drug manufacturers may have their profitability negatively impacted from direct or indirect actions taken by regulators or other healthcare suppliers.
In our research, two other factors weigh into the significant impacts, to be covered in our upcoming blog posts.
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Digital Disruption
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Clinical strategies to optimise SaMD for treating mental health
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Digital Disruption whitepaper
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Clinical trial data anonymisation and data sharing
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Clinical Trial Tokenisation
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Closing the evidence gap: The value of digital health technologies in supporting drug reimbursement decisions
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Digital disruption in biopharma
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Disruptive Innovation
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Personalising Digital Health
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The triad of trust: Navigating real-world healthcare data integration
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Clinical strategies to optimise SaMD for treating mental health
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Patient Centricity
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Agile Clinical Monitoring
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Capturing the voice of the patient in clinical trials
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Charting the Managed Access Program Landscape
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Developing Nurse-Centric Medical Communications
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Exploring the patient perspective from different angles
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Patient safety and pharmacovigilance
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A guide to safety data migrations
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Outsourced Pharmacovigilance Affiliate Solution
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The evolution of the Pharmacovigilance System Master File: Benefits, challenges, and opportunities
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Sponsor and CRO pharmacovigilance and safety alliances
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Understanding the Periodic Benefit-Risk Evaluation Report
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A guide to safety data migrations
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Patient voice survey
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Patient Voice Survey - Decentralised and Hybrid Trials
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Reimagining Patient-Centricity with the Internet of Medical Things (IoMT)
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Using longitudinal qualitative research to capture the patient voice
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Agile Clinical Monitoring
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Regulatory Intelligence
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An innovative approach to rare disease clinical development
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Using innovative tools and lean writing processes to accelerate regulatory document writing
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Current overview of data sharing within clinical trial transparency
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Global Agency Meetings: A collaborative approach to drug development
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Keeping the end in mind: key considerations for creating plain language summaries
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Navigating orphan drug development from early phase to marketing authorisation
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Procedural and regulatory know-how for China biotechs in the EU
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RACE for Children Act
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Early engagement and regulatory considerations for biotech
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Requirements & strategy considerations within clinical trial transparency
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Transfer of marketing authorisation
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Leveraging historical data for use in rare disease trials
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Patient Centricity in Orphan Drug Development
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Therapeutic spotlight: Precision medicine considerations in rare diseases
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Transforming Trials
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Biopharma perspective: the promise of decentralised models and diversity in clinical trials
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Decentralised and Hybrid clinical trials
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Practical considerations in transitioning to hybrid or decentralised clinical trials
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Navigating the regulatory labyrinth of technology in decentralised clinical trials
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Biopharma perspective: the promise of decentralised models and diversity in clinical trials
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eCOA implementation
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Implications of COVID-19 on statistical design and analyses of clinical studies
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Improving pharma R&D efficiency
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Increasing Complexity and Declining ROI in Drug Development
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Innovation in Clinical Trial Methodologies
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Risk Based Quality Management
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Transforming the R&D Model to Sustain Growth
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CMS Part D Price Negotiations: Is your drug on the list?
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Evidence Synthesis: A solution to sparse evidence, heterogeneous studies, and disconnected networks
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Global Outcomes Benchmarking
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ICER’s impact on payer decision making
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Making Sense of the Biosimilars Market
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Medical communications in early phase product development
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Navigating the Challenges and Opportunities of Value Based Healthcare
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Payer Reliance on ICER and Perceptions on Value Based Pricing
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Payers Perspectives on Digital Therapeutics
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Precision Medicine
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RWE Generation Cross Sectional Studies and Medical Chart Review
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Survey results: How to engage healthcare decision-makers
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The affordability hurdle for gene therapies
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The Role of ICER as an HTA Organisation
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Strategies for commercialising oncology treatments for young adults
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