Putnam Associates Study Finds Insurers Want More Prescription Drug Use

Putnam Associates released today the results of an intensive study of U.S. health insurance plans' perceptions of branded prescription drug use in the U.S. The study revealed that plans believe greater pharmacoeconomic value can be unlocked by increasing patient use within certain drug categories.

Rising healthcare expenses have insurance companies desperate to cut costs, and many worry this will prompt increasing restrictions across the board on patient prescription drug coverage. However, Putnam discovered 8 classes of drugs, accounting for over $100 billion in sales, where insurers believe that increasing the number of patients on therapies and getting those patients with prescriptions to take their drugs would create value for both patients and plans in the long term.

Plans' interest in seeing increased appropriate use suggests there is opportunity for pharmaceutical manufacturers to align with them on certain drug categories. "The common ground between health plans and pharmaceutical manufacturers is around appropriate use, as these conversations can unlock value and address needs for both parties," says Richard Tinsley, Partner at Putnam Associates. He adds, "Our study shows there is clear agreement and opportunity for expanded appropriate use in many categories while in others there is less agreement. One of the key challenges for a managed markets team is how to address these issues at a portfolio level."

Putnam Associates researchers spoke to health care plan decision-makers who collectively insure 62% of the privately insured U.S. population, or roughly 124 million individuals. Insurers were asked to consider both underuse and over use of branded prescription drugs across 18 drug categories. Of the 18 categories, 8 were identified as being underused.

To download a copy of "U.S. Managed Markets: Opportunities and Risks in the Emerging Appropriate Use Paradigm" visit http://www.putassoc.com/company/pub_usmanaged.html

Most Popular Now

Pfizer's elranatamab granted FDA Breakthrough Ther…

Pfizer Inc. (NYSE:PFE) announced its investigational cancer immunotherapy, elranatamab, received Breakthrough Therapy Designation from the U.S. Food and Drug Administrati...

Vividion Therapeutics names Jenna Goldberg as Chie…

Vividion Therapeutics, Inc., a biopharmaceutical company utilizing novel discovery technologies to unlock high value, traditionally undruggable targets with precision the...

Pfizer and BioNTech receive positive CHMP opinion …

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) announced a booster dose of their Omicron BA.4/BA.5-adapted bivalent COVID-19 vaccine (COMIRNATY® Original/Omicron ...

Bayer with continued strong performance

The Bayer Group maintained its strong business performance across all three divisions in the third quarter. "Despite rising inflation and global supply chain problems, we...

Sanofi and GSK's next-generation COVID-19 booster …

After the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion for VidPrevtyn® Beta, the vaccine was approved by t...

Sugar molecules as a target in cancer therapy

Cancer cells use sugar molecules on their surface to disable attacks by the body's immune system. Researchers at the University of Basel now report on how this mechanism ...

COVID vaccination improves effectiveness of cancer…

Patients with nasopharyngeal cancer are often treated with drugs that activate their immune system against the tumor. Until now, it was feared that vaccination against Co...

GSK announces positive Phase IIa study results for…

GSK plc (LSE/NYSE: GSK) announced positive results from a Phase IIa study demonstrating that GSK3036656, a first-in-class investigational antitubercular agent, was well t...

Making melanoma immortal: Pitt scientists discover…

Scientists at the University of Pittsburgh School of Medicine have discovered the missing puzzle piece in the mystery of how melanoma tumors control their mortality. I...

New drug shows promise for fighting both COVID-19 …

While vaccination can provide life-saving protection against COVID-19, scientists are still searching for ways to treat severe infections, including in people who cannot ...

Machine learning can help predict patient response…

Predicting which patients will respond well to treatment is a quandary that has plagued the field of cancer immunotherapy for more than four decades. Now, researchers at ...

Study reveals vaccine confidence declined consider…

A new study suggests that, despite the success of the COVID-19 vaccination campaigns, vaccine confidence has declined significantly since the start of the pandemic. Re...