The US prescription drug business is a $500 billion industry whose rising prices carry profound consequences for patients, caregivers, employers and taxpayers across the nation. In the United States, average prices of leading brand-name drugs are two to four times higher than prices charged in other wealthy countries, raising questions as to what Americans are getting for the extra expense. On the other hand, healthy industry returns have arguably fueled life-saving innovation. With the advent of ever more targeted and powerful treatments, including cell- and gene-based therapies with multi-million-dollar price tags, the need for sensible drug pricing policies will only intensify. 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. This volume describes how researchers and policy makers have pursued drug valuation efforts in the past, and lays out a series of recommendations, based on years of shared author experience serving on national drug policy platforms, for how to further improve pharmaceutical value assessment in the United States. With unique industry insights and clear narrative, The Right Price unveils why the pricing of drugs continues to be so challenging and how public and private officials can create more informed policies to achieve the right balance between drug pricing and value.

About the Author
Peter J. Neumann, ScD, is Director of the Center for the Evaluation of Value and Risk in Health (CEVR) at the Institute for Clinical Research and Health Policy Studies at Tufts Medical Center, and Professor of Medicine at Tufts University School of Medicine. Dr. Neumann is also a member of the editorial advisory board of Health Affairs and the health policy advisory board for the Congressional Budget Office. Joshua T. Cohen, PhD, is Deputy Director of the Center for the Evaluation of Value and Risk in Health (CEVR) at the Institute for Clinical Research and Health Policy Studies at Tufts Medical Center, and Research Associate Professor of Medicine at Tufts University School of Medicine. Daniel A. Ollendorf, PhD, is Director of Value Measurement and Global Health Initiatives at the Center for the Evaluation of Value and Risk in Health (CEVR) at the Institute for Clinical Research and Health Policy Studies at Tufts Medical Center, and Research Assistant Professor of Medicine at Tufts University School of Medicine. Prior to joining CEVR, he spent ten years as the Chief Scientific Officer at the Institute for Clinical and Economic Review (ICER). Dr. Ollendorf currently serves as a non-resident Fellow at the Center for Global Development, and as Chair of the Health Technology Assessment International (HTAi) Global Policy Forum.

Reviews
This is a timely book. Highly recommended. All readers. * E. P. Hoffman, Western Michigan University, CHOICE *
The Tufts team should be commended for providing an important and valuable assessment of current drug pricing methodologies and how they can be improved. It should be considered required reading for those wanting to know more about the sausage-like world of drug pricing. * Rick Mathis, Health Affairs *
This is a must-read guide for both insiders and non-experts to a topic that will be at the forefront of the drug pricing debate in the coming decade. * Frank S. David, MD, PhD, shepherd.com *
An extremely helpful and well-sourced guide to the myriad thorny issues and history behind current drug pricing and value assessment. * Austin Frakt, Boston University School of Public Health *
The pricing of medicines is one of the hardest problems in public policy, brimming with clinical and economic complexity. This remarkable book written by the world's leading group on drug pricing explains the key issues clearly, and without compromise. If you read only one book on how to price medicines smartly, this should be the one. * Amitabh Chandra, Harvard Kennedy School of Government and Harvard Business School *
This is a highly readable and timely guide for anyone interested in thoughtful solutions to the nation's ongoing debates about prescription drug pricing, controlling costs, and ensuring affordability while enhancing innovation to improve people's health. * Mark McClellan, former administrator of the Centers for Medicare & Medicaid Services (CMS) and former commissioner of the U.S. Food and Drug Administration (FDA) *



Book Information
ISBN 9780197512876
Author Peter J. Neumann
Format Paperback
Page Count 272
Imprint Oxford University Press Inc
Publisher Oxford University Press Inc
Weight(grams) 394g
Dimensions(mm) 234mm * 155mm * 16mm