Dr Joseph Fuhr: Biosimilar Competition Can Yield Consumer Savings
Joseph P. Fuhr, Jr, PhD, professor emeritus, Widener University, sees value in stakeholder education about biosimilar products.
Joseph P. Fuhr, Jr, PhD, professor emeritus, Widener University, sees value in stakeholder education about biosimilar products.
Transcript (slightly modified)
How important is stakeholder education on biosimilars?
It is important to educate healthcare professionals and patients concerning biosimilars. For me, the most important would be the payers, who have the incentive to inform people about highly similar low-cost alternatives. Payers are the agents of subscribers. Also, physicians need to educate patients. So, consumers should gain through competition from biosimilars. The better educated the physicians are, the more they will be willing to prescribe biosimilars. Unless it is an interchangeable biologic, there will be automatic substitution at the pharmacy level. thus, biosimilars must be directly prescribed by physicians.
However, many biosimilars are physician or hospital-administered, in which case the physician will pick the drug they want. As long as physicians believe the products are highly similar and there are no clinical differences, they can benefit with bundling or value-based pricing by cutting costs and keeping some of the savings.
Biosimilar Substitution Can Reduce TCOC, Improve Provider Performance in Value-Based Payment Models
December 7th 2023A simulation study estimated the impact of biosimilar substitution on total cost of care (TCOC) and provider financial performance in the final performance period of the Oncology Care Model.
IQVIA Highlights Opportunity to Cash In on Biosimilars for Biologics Losing Market Exclusivity
November 29th 2023A report from IQVIA noted that Europe could miss out on €15 billion in cost savings by not having biosimilars for medications about to lose market exclusivity, shedding light on the implications for overall health care savings and ultimately, patient access.
Dr Fran Gregory Sizes Up the US Adalimumab Market: Will Biosimilars See Success?
September 17th 2023On this episode of Not So Different, Fran Gregory, PharmD, MBA, vice president of emerging therapies at Cardinal Health, analyzes the adalimumab market so far in the United States and provides insight into how the market needs to adapt to accept these products and ensure lower drug costs for patients.
Study: Biosimilar Use, Dose Rounding Produce More Cost Savings Than Either Strategy Alone
November 18th 2023A retrospective study of New England patients receiving trastuzumab or bevacizumab found that combining dose rounding and biosimilar use resulted in greater cost savings than either strategy alone.
