The Right Price: A Value-Based Prescription for Drug Costs

The US prescription drug business is a $500 billion industry whose rising prices have profound consequences for patients, caregivers, employers, and taxpayers. The Right Price sheds light on the controversial topic of drug pricing by providing an accessible guide to pharmaceutical markets and analytic techniques used to measure the value of drug therapies. It illustrates the need for value-based pricing through real-life stories of patients and their experiences with the drug industry and explains why simple solutions like price controls and the importation of cheaper drugs from other countries are problematic.

Format: Paperback / softback
Length: 272 pages
Publication date: 12 October 2021
Publisher: Oxford University Press Inc

The US prescription drug business is a vast and influential industry, valued at over $500 billion. However, the rising prices of these drugs have significant consequences for patients, caregivers, employers, and taxpayers alike. In comparison to other wealthy countries, the average prices of leading brand-name drugs in the US are two to four times higher, raising concerns about the value that Americans are receiving for their increased expenses. On the other hand, the pharmaceutical industry has seen healthy returns, which have been attributed to the development of life-saving innovations. The advent of targeted and powerful treatments, such as cell- and gene-based therapies with multi-million-dollar price tags, has further emphasized the need for sensible drug pricing policies.

"The Right Price" is a valuable resource that sheds light on the controversial topic of drug pricing. It provides an accessible guide to pharmaceutical markets and analytic techniques used to measure the value of drug therapies. Through real-life stories of patients and their experiences with the drug industry, the book illustrates the need for value-based pricing and explains why simple solutions like price controls and the importation of cheaper drugs from other countries are problematic.

The book also describes how researchers and policy makers have pursued drug valuation efforts in the past and offers a series of recommendations for how to further improve pharmaceutical value assessment in the US. These recommendations are based on years of shared author experience serving on national drug policy platforms and aim to strike a balance between drug pricing and value.

With its unique industry insights and clear narrative, "The Right Price" unveils the challenges and complexities surrounding drug pricing and provides valuable insights for public and private officials seeking to create more informed policies that achieve the right balance between drug pricing and value.

Weight: 404g
Dimension: 155 x 235 x 22 (mm)
ISBN-13: 9780197512876