Applying V-BID to Specialty Medications
Specialty pharmaceuticals are medications that consist of complex molecules, are often complicated to deliver, and/or carry high costs. Today, approximately a third of total pharmaceutical spending in the commercial market is devoted to specialty medications. If current trends in utilization hold, it is estimated that spending on specialty medications will comprise half of all pharmaceutical expenditures by 2018.
For many patients, specialty medications represent the most appropriate clinical recommendation. However, the benefit delivered by any given medication may vary markedly depending on the particular circumstances around its use. This variation is referred to as ‘clinical nuance.’
To constrain the rapid rate of increased spending, many payers have established high consumer cost-sharing requirements for these medications. V-BID principles can be applied to align specialty medications and appropriate populations by basing consumer cost-sharing on a drug or treatment’s clinical value, not acquisition cost.
Implementing V-BID in Specialty Pharmaceuticals: “Reward the Good Soldier”
Implementing a V-BID prescription specialty medication plan that offers clinically nuanced cost-sharing based on patient- or disease-specific characteristics and that directs consumers toward high-value providers, payers, and purchasers can improve consumers’ access to necessary medications and reduce the likelihood of missed or delayed care and appropriate utilization of specialty medications.
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