Last week, the American Medical Association (AMA) adopted a new policy that supports initiatives moving toward value-based drug payments.
The health care industry is in the midst of a shift to value-based payments and away from pay-for-service models. This push toward low-cost, high-quality health care is driven in part by the rising cost of many medications, a significant barrier to care for many individuals.
AMA president Dr. Andrew W. Gurman said in a statement:
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. This transformation should support drug prices based on overall benefit to patients compared to alternatives for treating the same condition. We need to have the full picture to assess a drug’s true value to patients and the health care system.
Along with the new policy, the AMA also launched a website, TruthinRx, that allows patients to share their stories of how drug pricing has affected their lives.