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The Right Price – A Value-Based Prescription for Drug Costs - Oxford Scholarship Online
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The Right Price: A Value-Based Prescription for Drug Costs

Peter J. Neumann, Joshua T. Cohen, and Daniel A. Ollendorf

Abstract

New medications can provide substantial benefits, but high prescription drug prices have led to calls to contain costs. Even after accounting for discounts and rebates, average prices of leading brand-name drugs in the United States are two to four times higher than in other wealthy countries, raising questions about what these higher prices are buying us. With the advent of ever more targeted and powerful treatments, including cell- and gene-based therapies with multimillion dollar price tags, the need for sensible drug pricing policies will intensify. Price controls, common in other countrie ... More

Keywords: prescription drugs, pharmaceuticals, healthcare, health costs, economics, cost-effectiveness analysis, quality-adjusted life years, QALYs, public policy

Bibliographic Information

Print publication date: 2021 Print ISBN-13: 9780197512883
Published to Oxford Scholarship Online: May 2021 DOI:10.1093/oso/9780197512883.001.0001

Authors

Affiliations are at time of print publication.

Peter J. Neumann, author
Director, Center for the Evaluation of Value and Risk in Health, Tufts Medical Center

Joshua T. Cohen, author
Deputy Director, Center for the Evaluation of Value and Risk in Health, Tufts Medical Center

Daniel A. Ollendorf, author
Director, Value Measurement and Global Health Initiatives, Center for the Evaluation of Value and Risk in Health, Tufts Medical Center

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