Here at NovaMedica, we focus on the Russian and CIS markets at a time of rapid economic and regulatory change. Buoyed by the efforts of the Russian Government to modernize Russian healthcare, we expect over time to engage with a wide range of payers, all of whom will be responsible for making or informing decisions made by their organizations regarding the reimbursing, listing and paying for of drugs. To make sure NovaMedica meets the needs of this important customer group at the earliest possible stage of drug development, we will be working to ensure that payer perspectives are incorporated from early on in the product lifecycle. We believe this is critical to achieving and maintaining patient access to the medicines and other specialty pharma solutions we in-license from all over the world.
We expect that here in Russia the payer community, responding to concerns about growth in healthcare costs, will take active steps to reduce pharmaceutical and other healthcare spend. Payers will expect our medicines to be not only safe and effective, but also to provide a positive healthcare-economics outcome(defined differently by different payers). One way for payers to assess this is by increasing the focus on how our medicines perform in the ‘real world’ and whether or not they will add value to a healthcare system-which is why we are building an industry-leading capability in ‘real world evidence.’ Real world evidence comes from observational studies and can provide us with data on what is happening with patients outside of the clinical trial environment, what the health outcomes are and the total cost of care. We intend to make intensive use of all such cohort and observational studies available in order to guide our decision making and reinforce our healthcare-economics arguments to the payer community.
Today, having the best science in the world is often not enough to gain patient access to our medicines if payers don’t see the value. Ultimately, for every drug and device we in-license for the Russian and CIS markets , we must answer one simple question: Why should I pay for this medicine? To do this, we will integrate the payer perspective into our core business strategy and ensure we’re having a continuous and collaborative dialogue with them to build and enhance product value, develop strategic relationships, strengthen reputations and shape policy.
Our aim in NovaMedica is to deliver valuable new medicines with demonstrable differentiated benefits to Russian and CIS patients at unprecedented levels of efficiency, effectiveness and transparency. We will address the evidence needs of payers at every stage of the product lifecycle, so we can succeed in achieving and maintaining market access and can make the most meaningful difference to patient health here in Russia and the CIS.
Please check back with us regularly as we develop our value proposition for payers and insurers or register here.
20 March 2019
20 March 2019
20 March 2019
19 March 2019