PharmaCCX has taken principles from Finance and is applying them to Pharma negotiations. Focused primarily on European single payer markets and combination oncology products, PharmaCCX is working with Payers and Pharma to deliver on a new method and platform to expedite complicated negotiations that were previously not possible or very difficult to complete. Using lessons and processes from Wall Street and bond trading platforms PharmaCCX delivers a new method that is good for Patients, Payers, and Pharma.
The Good News – breakthrough therapies
Entirely new types of therapies are being developed by public research organizations and private sector innovators. These scientific breakthroughs in genomics, epigenetics, and system biology are paying off. Drug pipelines are full breakthroughs including targeted immunotherapy, cell and gene therapy, and others.
The taxonomy of disease is being re-written as we move towards precision (personalized) medicine where a therapy is selected on each patient’s biology. One medicine will be used in different indications, and in different combinations, all with potentially different value.
The Problem – No access
Today's legacy market access processes are lagging behind scientific innovation. Pharma and payers in Europe are excited for innovative pricing strategies like indication and value based pricing. But, negotiations take too long, even with just two parties. For combination therapies, with three parties, the negotiations are even more complicated.
As a result, there is a logjam of therapies that have been approved clinically, but not to be reimbursed. Patients are not getting the medicine that they need, and companies are not selling their newest therapies. A new model is needed that reflects the scientific innovations and the new reality of therapies on the market.
The Solution – an exchange
PharmaCCX has built an independent, transparent, third-party platform to expedite these difficult negotiations. PharmaCCX's platform can handle complex negotiations amongst multiple parties and can reach a suitable agreement between the parties faster than current methods. This is good for patients who were previously unable to get access to novel therapies. This is good for payers who naturally care about the patients for who they are responsible. This is good for Pharma companies that have spent so much to develop these novel therapies and want them to be used in the marketplace.
The first users of this "smart exchange" include global oncology pharmaceutical companies and some of the most innovative healthcare systems in Europe.