Doctors call for value-based Rx pricing

The American Medical Association (AMA), the nation’s largest physician organization, is taking on the issue of rising health care costs for consumers.

The AMA adopted a new policy in November supporting initiatives “aimed at changing the fundamentals of prescription drug pricing without compromising patient outcomes and access,” according to Modern Healthcare.

The organization thinks prices should be set by independent, objective agencies using evidence and data to back up pricing decisions. In addition, the group says prices should be transparent and affordable.

The AMA supports direct-purchasing agreements that can lower prices in exchange for larger, guaranteed markets for some drugs.

Pricing should also take a drug’s public health value into consideration, the organization says.

“The new AMA policy acknowledges the carte blanche approach to drug pricing needs to change to align with the health system’s drive for high-quality care based on value,” AMA president, Dr. Andrew W. Gurman, said in a statement.

Other clinical groups, including the American College of Physicians, have called for a value-based pricing approach.

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