–With a late 2019 launch target, ICER’s Evidence Compendium and Interactive Modeler will enable decision-makers within payers, pharmaceutical companies, and other stakeholders to easily integrate ICER-generated analyses and curated content into their formulary, benefit design, and pricing strategy–
NEW ORLEANS, May 20, 2019 – At this week’s Annual Meeting of the International Society for Pharmacoeconomics and Outcomes (ISPOR), the Institute for Clinical and Economic Review (ICER) announced it will be developing two new tools to enhance the ability of payers, pharmaceutical companies, patient groups, and other stakeholders to quickly examine ICER’s entire body of work and generate actionable summaries, allowing them to more readily use this work in a variety of strategic decisions. The entirety of each individual ICER assessment will remain in the public domain and free for anyone to access through the ICER Evidence Reports. These new decision-support tools – the ICER Evidence Compendium™ and the ICER Interactive Modeler™ – will be subscription-based products intended to make the entire body of past and present ICER work easier to search, to analyze, and to apply to a wide variety of policy and decision-making platforms.
“Increasingly, ICER’s independent and rigorous value assessments are informing the critical decisions pharmaceutical companies and US payers make around a prescription drug’s price, reimbursement, and coverage,” said Steven D. Pearson, MD, MSc, President of ICER. “Our Evidence Compendium and Interactive Modeler will significantly expand and expedite all stakeholders’ ability to access key details across a wide collection of past ICER assessments, and to tailor modeling inputs & assumptions based on a specific patient population or existing cost structure. With these advancements, the US health system will be able to more effectively integrate and systematize ICER assessments, so that evidence can be used in a more transparent way to better align a treatment’s price to its ability to improve patients’ lives. This is a cornerstone of improving patient access and affordability, while retaining the financial incentives necessary for future pharmaceutical innovation.”
- The ICER Evidence Compendium will be a web-based interface that features a rapidly searchable and sortable summary of the most frequently cited results from ICER’s library of evidence reports, including both the clinical effectiveness ratings and value-based price benchmarks for each drug and indication, comparative results across similar treatments in a therapeutic class, as well as interactive material from the public meetings on voting records and key stakeholder commentary. By presenting ICER’s public reports in this manner, the Evidence Compendium will facilitate the translation of our evidence into templates that can help guide pharmaceutical pricing strategies, payer benefit design, and the deliberations of Pharmacy & Therapeutics Committees.
- The ICER Interactive Modeler will allow stakeholders to analyze key aspects of individual ICER economic models and tailor parameters based on a specific patient sub-population or a unique cost structure. This will provide another advance in making cost-effectiveness a foundation of determinations of value, and will also enable payers to more accurately understand the budget impact of different care options specific to their patient population and their negotiated agreements with hospital systems, pharmaceutical manufacturers, etc. The Interactive Modeler will also enable pharmaceutical companies to anchor their economic dossiers on an independent and trusted source in conversations with payers.
ICER will be conducting interviews with potential end users to help inform the final design and subscription model for both the Evidence Compendium and the Interactive Modeler. More details will be announced as we approach the launch of these decision-support tools.
The Institute for Clinical and Economic Review (ICER) is an independent non-profit research institute that produces reports analyzing the evidence on the effectiveness and value of drugs and other medical services. ICER’s reports include evidence-based calculations of prices for new drugs that accurately reflect the degree of improvement expected in long-term patient outcomes, while also highlighting price levels that might contribute to unaffordable short-term cost growth for the overall health care system.
ICER’s reports incorporate extensive input from all stakeholders and are the subject of public hearings through three core programs: the California Technology Assessment Forum (CTAF), the Midwest Comparative Effectiveness Public Advisory Council (Midwest CEPAC), and the New England Comparative Effectiveness Public Advisory Council (New England CEPAC). These independent panels review ICER’s reports at public meetings to deliberate on the evidence and develop recommendations for how patients, clinicians, insurers, and policymakers can improve the quality and value of health care. For more information about ICER, please visit ICER’s website.