What Can We Expect from Value-Based Funding of Medicines? A Retrospective Study

Published on Apr 1, 2016in PharmacoEconomics3.71
· DOI :10.1007/s40273-015-0354-z
Anthony Harris43
Estimated H-index: 43
Jing Jing Li7
Estimated H-index: 7
Karen Kah Leng Yong2
Estimated H-index: 2
Objective Deciding on public funding for pharmaceuticals on the basis of value for money is now widespread. We suggest that evidence-based assessment of value has restricted the availability of medicines in Australia in a way that reflects the relative bargaining power of government and the pharmaceutical industry. We propose a simple informal game-theoretic model of bargaining between the funding agency and industry and test its predictions using a logistic multiple regression model of past funding decisions made by the Pharmaceutical Benefits Advisory Committee in Australia.
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