ICER to report on unjustified drug price increases

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Early next year, the nonprofit Institute for Clinical and Economic Review (ICER) will issue its first report on US drug price increases that are not supported by clinical evidence. ICER is a leader in assessing the value of medical treatments, including medications. ICER’s benchmark price ranges for new drugs have been used by Medicaid programs, Medicare plans, private insurers and the Veteran’s Administration in pricing decisions. Many states, including CT, have passed legislation to generate lists of drugs with large price increases, but don’t have an “explicit and independent approach to determining whether price increases are supported by new clinical evidence or other factors.” This new initiative will help state policymakers with those decisions. The methodology for developing the reports is being guided by a multi-stakeholder advisory committee of experts including clinicians, policy analysts, payers, economists, pharmaceutical representatives, and patient advocates. ICER’s reports will provide CT policymakers and payers with a powerful tool to maximize value from every scarce healthcare dollar.