A report to inform member insurers about the likely trends in claims expenditure on high-cost drugs.
Over 500 oncology PD1/PL1 combination trials, high-cost spending increasing at 15% CAGR, a pipeline full of disruptive innovation and the impending loss of exclusivity of some of the world’s biggest drugs are just some of the reasons horizon scanning is a crucial activity for anyone involved in the procurement and funding of pharmaceutical treatments.
The International Federation of Health Plans (iFHP) Expert Panel on high-cost drugs was set up to address these topics. As part of the initiative, the iFHP launched a 2017 partnership project with IQVIA (formerly IMS Health and Quintiles) to work in collaboration with interested iFHP members to conduct a Horizon scan to enable better prediction of the impact of new or pipeline drugs on the health insurance market over the next 1-5 years.
This ongoing project has conducted a full horizon scan of the pipeline and marked drugs utilising extensive secondary research and IQVIA’s proprietary data assets to identify drug classes with high impact on costs. IQVIA is also developing a quantitative forecasting tool for participating insurers to understand the financial impact of these drugs. Additionally, the project includes deeper analysis of PD1/PDL1 combinations (which have over 500 ongoing clinical trials) and an in-depth loss of exclusivity analysis for participating members.
The final outputs will be used to inform more accurate pricing of insurance premiums by actuarial teams, and participating insurers’ commissioning strategy to enable more effective procurement of drugs.
Chris Edwards IQVIA Project Manager
Raja Shankar IQVIA Senior Principal
Nicola Jedrej iFHP Project Lead