Build trust and measure outcomes to help increase patient access
Health care’s embrace of value-based care requires life sciences companies to create strategies that focus on patient outcomes. To secure access to a higher formulary tier or broaden access, manufacturers need to prove the value of their products to payers, whose own goals may include:
- Managing overall total cost of care
- Reducing uncertainty in financial estimates
- Sharing the risk associated with drugs whose real-life performance is still unknown
More targeted therapies often come to market with high price tags — but that doesn’t mean they can’t be cost effective. A treatment’s effects on patient prognosis, quality of life, productivity and more can all factor into its value versus the standard of care.
Value-based contracts (VBCs), also known as outcomes-based contracts (OBCs), are written agreements that offer an effective avenue to increase patient access and mitigate risk.
VBCs are built upon a foundation of real-world evidence (RWE) that provides information like patient and provider characteristics, treatment outcomes and market share. Value-based contracting also generates valuable evidence on the ongoing performance of a drug, acting as a great source of RWE themselves.
When life sciences organizations consider using value-based contracts, they need a partner that understands their needs, the market dynamics driving payer decisions and the complexities of clinical care. Optum experts work with manufacturers, payers and providers to:
- Find endpoints that are measurable and relevant to all stakeholders
- Build trust and understand multiple points of view
- Use real-world data and analytics to monitor and measure VBC outcomes