Founded in 2006, the Institute for Clinical and Economic Review (ICER) is an independent and non-partisan research organization that objectively evaluates the clinical and economic value of prescription drugs, medical tests, and other health care and health care delivery innovations. ICER conducts rigorous analyses of all clinical data and publicly convenes key stakeholders – including patients, doctors, life science companies, private insurers, and the government – to translate this evidence into policy decisions that lead to a more effective, efficient, and just health care system.
Today, ICER is best known as the nation’s independent watchdog on drug pricing. ICER’s drug assessment reports include a full analysis of how well each new drug works, the economic value each treatment represents, and other elements of value that are important to patients and their families. The reports use these analyses to establish a “value-based price benchmark” reflecting how each drug should be priced to appropriately reflect long-term improved patient outcomes. Reports also evaluate the potential short-term budget impact of new drugs to alert policymakers to situations when short-term costs may strain health system budgets and lead to restrictions on patient access. To ensure objectivity in its work, all ICER reports are produced with funding exclusively from non-profit foundations and other sources that are free of conflicts of interest from the life science industry or insurers.