Shaping the Future of Healthcare Economics and Outcomes Research
The International Society for Pharmacoeconomics and Outcomes Research (ISPOR), a leading global organization in health economics and outcomes, recently held its highly anticipated conference in May 2023. Three critical themes stood out from the event: the impact of the Inflation Reduction Act, the development of a value framework beyond the biopharmaceutical sector, and the urgent need to address disparities in healthcare.
Shifting Focus: Overcoming Disparities, Government Regulations, and Redefining Value
The Impact of the Inflation Reduction Act:
The Inflation Reduction Act was a hot topic at ISPOR. Discussions revolved around its potential to bend the cost curve and highlights the importance of quality as a pathway to ensure appropriate spending.
Real-world data provides valuable insights into the actual costs, outcomes, and utilization patterns of healthcare interventions in real-world settings, and will allow for the evaluation of the law’s potential to reduce costs in specific areas, such as prescription drugs, medical procedures, and hospital stays. Additionally, real-world data contributes to the ongoing discussion on the law’s effectiveness by providing evidence on quality and costs, which is a key factor emphasized during the conference.
Developing a Value Framework Beyond Biopharma:
ISPOR showcased a refreshing shift in focus beyond Biopharma, highlighting the importance of advancing HEOR in other areas of the healthcare ecosystem. The conference emphasized the importance of defining value, evaluating costs, and managing the best options collectively across procedures, digital health, and services.
Quality real-world data will be essential for developing a comprehensive value framework that extends beyond the traditional biopharmaceutical sector. By leveraging real-world evidence, decision-makers can assess the real-world effectiveness, safety, and cost-effectiveness of healthcare interventions across procedures, digital health solutions, and services.
Addressing Disparities in Healthcare:
The presentations and research posters at ISPOR reiterated the urgency of addressing disparities in healthcare. Stakeholders emphasized the demand for data, analytics, and studies that promote equity, particularly in screening and treatment. These discussions highlighted the industry’s commitment to fostering inclusivity and striving for equitable healthcare practices.
There is no doubt that real-world data will continue to be a powerful tool for identifying and addressing disparities in healthcare. Analyzing data from diverse patient populations, including underrepresented groups, drives real-world evidence that helps in understanding the root causes of disparities and allows for the design of targeted interventions to promote equity.
Putting It All Together
The key insights and learnings from ISPOR 2023 provide valuable guidance for the impact of real-world data and the future of HEOR. Quality real-world data remains paramount in driving dependable, irrefutable real-world evidence. Blue Health Intelligence® (BHI®) stands apart with its comprehensive closed claims data assets, its uniform quality fields, and the flexibility of tokenization to connect additional data sources. Our solutions cater to your data needs for generating real-world evidence on patient journeys, comparative effectiveness, health economics, and other use cases, offering a trusted and reliable option.
Contact us today to learn more about how BHI can support your real-world data requirements and help you derive meaningful insights from your research.