Video: Prof. Lieven Annemans on the 3 factors that determine authorities’ willingness to pay for new (costly) medicines
Not only should every pharmaceutical executive interacting with stakeholders know the basics of health economics, they should also have a minimum understanding of how payers take decisions.
One year of perfect health is valuable to all of us. Research revealed that the EU citizen is willing to pay, on average, €40.000 to gain 1 year of life in good health.
But imagine a new treatment costs €60.000, what are the factors that policy makers, and pricing & reimbursement authorities in particular, take into consideration in their decision making process?
Below is a video fragment of a TEDx presentation by Prof. Lieven Annemans, explaining in just a few minutes that not only Value for Money (health economics) is a critical factor, but Medical Need and Budget Impact as well.
Lieven is an international authority in health economics and health technology assessments, and above all an engaging and energetic speaker with humour (as you will see).